6 Jul 2022

India-Russia Trade Will Continue Despite Western Punishment: Russian Ambassador

Russia's ambassador to the United States Denis Alipov on Tuesday emphasized the strength of bilateral relations with India, saying that good trade ties between the two countries would continue despite Western sanctions imposed on Moscow.
In an interview with Sputnik News India, Alipov said there had been some trade difficulties after the start of the Ukrainian conflict but added that both countries had successfully overcome most of these obstacles.

He said sanctions would create challenges but co-operation would continue to depend on the same factors.

"Unfortunately, in the first few months after the launch of the special military service in Ukraine there were some difficulties with the supply of Russian goods to India and vice versa. Today, however, we have successfully overcome many of these obstacles. soon, ”he said.

The delegate noted that the objectives set out in December 2021 at the annual bilateral conference in New Delhi are fully in line with the strong ties of bilateral relations.

"India-Russia cooperation works at all levels. We increase cooperation in communication, diamond processing, forestry, health care and medicine, tourism, trains, metallurgy, public aviation, shipbuilding and oil refining. Our military and military cooperation is strengthened, ”He says.

Russia's ambassador to the United States has said that the flexibility of the two countries' trade will speak volumes. "According to India figures, from January to April 2022, it reached USD 6.4 billion. This is almost double the same period last year. If we keep these documents for the whole year, we will have a profit of more than USD 19 billion by the end of 2022 To put that in perspective, let me remind you that last year we had a total record of USD 13.6 billion. "

Alipov said Russia sees good prospects for Indian pharmaceutical products, leather and textiles, agricultural goods, machinery and equipment parts, communications equipment, organic chemistry products.

"We look forward to the growth of the exchange of resources in areas such as recreation, finance and insurance, telecommunications and information technology, transportation and construction. We have high hopes for the implementation of the International North-South Transport Corridor (INSTC) project," he said.

Since the start of the Russia-Ukraine war in February, the US and the EU and other allies have imposed a number of sanctions against Russia, including targeted sanctions, economic sanctions and diplomatic measures.

The purpose of the economic sanctions is to put a negative impact on Russia's actions and to thwart Russia's operations in Ukraine and to cripple its economy.

Alipov said the withdrawal of many western companies from the Russian market opens up new opportunities for Indian businesses.

"Russia 's business community is very committed to strengthening relations with India. Russia invites Indian companies in the aviation and steel industries, in the wood processing chain, and in factories that produce consumer goods in business cooperation," the envoy said.

"Our main task today is to adjust our trade and economic relations to meet new realities, to harmonize bilateral payment systems, to prioritize increased use of national currency," he added.

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