India says trying to stabilise economic transactions with Russia
Advertisement

India says trying to stabilise economic transactions with Russia

By Reuters

  • 06 Apr 2022
India says trying to stabilise economic transactions with Russia
S.Jaishankar | Credit: Reuters

India's foreign minister said on Wednesday the government is working to stabilise economic transactions with Russia, a day after India condemned killings of civilians in Ukraine and called for an independent probe.

S.Jaishankar told lawmakers in the Parliament that Russia continues to be a critical economic partner and efforts were underway to "stabilise economic transactions between India and Russia."

Russia is India's main supplier of defence hardware but overall annual trade is small, averaging about $9 billion in the past few years, mainly fertiliser and some oil.

Advertisement

Official sources have earlier stated that Indian government has been looking to establish a rupee-rouble trade system.

On Tuesday India' permanent representative to the United Nations, told a meeting of the Security Council that India condemned the killings of civilians in Ukraine's Bucha and called for an independent investigation.

Moscow has denied targeting civilians.

Advertisement

New Delhi has repeatedly called for an end to violence in Ukraine, but has abstained from various U.N. resolutions on the war as it balances its diplomatic ties with Moscow and the West.

Share article on

Advertisement
Advertisement
Google News Icon

Google News

Follow VCCircle on Google News for the latest updates on Business and Startup News