Dollars declined as India plans to pay in rubles for Russian air-defense system I GATA I THE GATA DISPATCH
Wednesday, October 31, 2018
The contract between Moscow and New Delhi on supplies of Russian S-400 air defense systems will be settled in rubles, according to Russian Deputy Prime Minister Yuri Borisov.
The move comes as Moscow intensifies recent efforts to make de-dollarization of the Russian economy one of the main pillars of its policy. The Kremlin is looking for an alternative to the U.S. dollar in mutual settlements with international partners. The key point of the plan is to make it more profitable for Russian exporters and importers to use rubles instead of dollars. ...
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