America will be in loss for the deal between Russia and India

Russia has found a way to spend the money earned by selling millions of barrels of crude oil to India. In fact, to spend the Indian rupees in its treasury, Russia has now ordered 24 cargo ships from an Indian shipyard.

It is noteworthy that due to problems in payment, the delivery of two batteries of Russia’s S-400 missile defense system was getting delayed. In such a situation, cooperation was announced between Goa Shipyard Limited (GSL) and Russian Export Centre.

Let us tell you that Russian officials were in India to discuss the delivery schedule of the remaining two batteries of S-400. It is believed that GSL, owned by the Government of India, will build 24 cargo ships by 2027 which will operate in the Caspian Sea.

Despite Western sanctions, India is doing business with Russia. This deal is considered beneficial for both the countries. It is noteworthy that in the financial year 2022, India exported 3,139 items to Russia, including machinery, chemicals, marine products and medicines, which were worth US $ 3.14 billion. In terms of imports, India imported 1,225 items from Russia in fiscal year 2022, including crude oil, petroleum products, precious stones and vegetable oils, worth US $ 46.21 billion.

Both countries want to reduce dependence on US dollar

In 2022, Bloomberg reported that the Kremlin’s foreign exchange reserves were frozen and Russia was kicked out of the SWIFT network. Due to this, India refused to pay Russia in US dollars. Both countries had decided to pay for the S-400 in Indian rupees to reduce dependence on the US dollar. India has already bought more than half a billion barrels of crude by September 2023, nearly ten times more than in 2021, a year before the war, according to data compiled by analytics firm Kpler, according to Politico. .

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