PTI, New Delhi
Published by: Dev Kashyap
Updated Thu, 03 Mar 2022 03:08 AM IST
Summary
Russia’s designated ambassador Denis Alipov mentioned a bilateral mechanism to trade in national currencies. He said that regarding the S-400 deal, let us assure that it will not be affected in any way. It is 100% certain.
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Western countries have imposed tough sanctions on Russia in the past few days after Russia’s military attack on Ukraine. At the same time, amid threats to Russia’s supply of S-400 missile defense systems to India from these sanctions, Russia has clarified that the supply will not be affected by the sanctions imposed on it by Western countries.
Russia on Wednesday said the supply of the S-400 missile defense system to India will not be affected by sanctions imposed on it by Western countries. In a media briefing, Russia’s designated ambassador Denis Alipov referred to a bilateral mechanism to trade in national currencies. He said that regarding the S-400 deal, let us assure that it will not be affected in any way. It is 100% certain. Alipov said that as far as overall trade and economic cooperation is concerned, we will see how the harsh sanctions that are being imposed will ultimately have an impact.
Significantly, in October 2018, India struck this defense deal with Russia despite warnings from the Trump administration, while the Trump administration had warned that US sanctions could be imposed if proceeding with the contract. India had signed a USD 5 billion deal with Russia to buy five units of S-400 air defense missile systems. Russia has already started supplying missile systems.
Asked about the impact of sanctions on bilateral trade, Alipov said that to an extent it would depend on the readiness of “Indian partners” to continue to participate. Asked whether Western sanctions and the conflict in Ukraine will have an impact on India’s supply of vital defense equipment. “We have bilateral mechanisms and means to trade in national currencies. Much will depend on the readiness of Indian partners to continue trading as some of them are more cautious about their exposure to the US and European markets,” he said. ”
Responding to a question whether Western sanctions and the conflict in Ukraine would affect the supply of key defense equipment to India, Alipov said mechanisms exist to reverse the impact of sanctions. “Russia has always risen from the ashes,” he said. It will rise once again. There is no doubt about it. We have taken steps for our safety. Our economy is stable and I am confident that we will face the pressure that we are experiencing or will experience in future.” and transaction mechanism.