Necessary for India to settle its relationship with Russia: Ambassador Denis Alipov discusses India-Russia relations

Russian Ambassador to India, Denis Alipov. (Pic/Official X)

Russian Ambassador Denis Alipov on Monday emphasised the importance of strengthening India-Russia ties, particularly in the context of establishing a direct trade payment system using rubles and rupees, reported news agency ANI.

He acknowledged the financial challenges that both nations face in implementing this mechanism but expressed optimism about future cooperation.

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Ambassador Alipov said, "Both [India and Russia] are thinking about a ruble-rupee trade mechanism. I'm not a big specialist in finances, but there is no direct exchange of rupee and ruble currently. The problem is not the exchange rate; the biggest challenge is the over-cautiousness of Indian banks regarding transactions with Russia."

He attributed it to pressure from the United States, stating, "The US has been meticulous in tracking transactions between India and Russia, even threatening sanctions."

Alipov questioned the necessity for India to limit its partnerships to US-aligned countries, suggesting that such restrictions could extend indefinitely.

"Today it is necessary for India to settle its relationship with Russia; tomorrow the US might ask India to curb its relationship with Bangladesh, for example. There might be an endless list of countries the US decides upon," he said.

The ambassador called for a more equitable representation of nations like India, Russia, and China in global financial discussions.

"It is necessary for India, Russia, China, and other members, the vast majority of the world, to have an equal voice in various issues of global financial cooperation. India's voice should be taken into account, and, like the rest of the world, India has all capacities," Alipov added.

He highlighted BRICS as a platform that amplifies the voices of the Global South and developing nations in international affairs.

Alipov noted that there is no legitimate reason for fear of US sanctions and stressed India's right to engage freely with various countries.

"We are hopeful that understanding among various banking communities in India would grow, recognising it is safe and correct to work with various countries without fearing coercive measures from the US. They are illegitimate in the first place. India does not support those sanctions, and it should stay as such", he added.

The ambassador also mentioned India's increasing interest in collaborative projects in Russia's Far East and Arctic regions, and said it "would be a step closer to more substantial engagement in the Arctic."

In terms of defence and nuclear energy collaboration, Alipov reaffirmed Russia's pivotal role in India's nuclear energy sector. "We are constructing six power plants at Kudankulam, and our cooperation in the nuclear energy sector is progressing very well," he stated.

He praised the progress on the BrahMos missile project and highlighted Russia's support for India's "AtmaNirbhar Bharat" and "Make in India" initiatives. "We are doing practical cooperation with Atmanirbhar Bharat, and the T-90 tank project is also there," he said, stated ANI.

Looking ahead, Alipov noted upcoming high-level visits between Russia and India, including an inter-government dialogue scheduled for November. He reaffirmed the resilience of bilateral ties despite external pressures.

Alipov also talked about high-level visits expected between Russia and India, including an inter-government dialogue scheduled for November, affirming the strength of bilateral ties despite external challenges.

(With inputs from ANI)