Foreign Minister to Visit India This Week: Report
New Delhi: After the one month of the Russian military operations in Ukraine – the Russian Foreign Minister Sergei Lavrov will Delhi this week for official meetings. It will be the first visit of any senior Russian official since President Vladimir Putin declared war on the neighboring country Ukraine.
Lavrov’s visit may focus on – strategic issues resulting from the war as well as specific discussions on purchasing Russian oil, payment mechanisms, given sanctions against Russian banks and exclusion from the SWIFT, and possible disruptions in the supply of military hardware.
In the last week, The government in the Parliament indicated that it is considering offers of discounted Russian oil, and Finance Ministry is looking into the payments issues for Indian importers and exporters that arise from the war and Western sanctions.
According to the sources, there may be a technical talk between the Russian Central Bank or Bank of Russia and the Reserve Bank of India this week. Russian team would travel to India ahead of Lavrov’s visit to further discuss setting up payment structures.
India would also be looking for clarity and assurances from Russia on timely delivery of spares and components for systems in use and of the deals underway including S-400 and Ak-203 assault rifles among others, as well as streamlining the rupee-rouble payment system for any future purchases.
(Vinayak)
