An important trading partner: what will the Indian Prime Minister negotiate in Russia?

Important trading partner: what will Indian Prime Minister Victoria Grabovskaya negotiate about in Russia

Narendra Modi arrived in Moscow on July 8. This is the first international visit of the Indian Prime Minister after his party won the parliamentary elections.

Political strategist Mikhail Sheitelman told 24 channel that Modi's first visit to Russia is a very practical step. Today, against the backdrop of sanctions pressure, India is Russia's second trading partner after China.

Secondary sanctions may be introduced

After the West imposed sanctions against Moscow, India became the main buyer of Russian oil.

This country is little by little “profiting” from the war in Ukraine, supplying cheap oil from Russia and delivering it by illegal tankers. It also buys other Russian resources and goods whose exports are subject to sanctions,” noted the political strategist.

At the same time, the West has made it difficult for India to make payments with Russia. Therefore, the main purpose of Modi’s visit to Russia is to establish this opportunity. After all, the SWIFT system for Moscow was closed, as well as its analogue, the Financial Message Transmission System.

Modi, according to the political strategist, should agree in Moscow that in India the Russian Mir system, which is also subject to sanctions, will be used to make payments. And in Russia the national payment system of India RuPay will operate.

However, the USA and Europe will closely monitor Modi's visit to Moscow.

“If the Prime Minister of India and Putin agree on new forms of payments, secondary sanctions will appear,” Mikhail Sheitelman emphasized.