The government has convened a multi-Ministerial group to look into how to overcome challenges in trade with Russia, including managing payments for exporters and importers.

Recent course of updates

• Many parliamentarians have raised concerns over India’s abstentions at the United Nations and the impact of Indian policy on India’s trade and ties with the US.
• Developments indicate a possible revival of “rupee-rouble trade” in the wake of economic sanctions against Russian banks and entities by more than 40 US and European allies.
• India’s position has been “steadfast and consistent”, and India has repeatedly called for the immediate cessation of violence and end to all hostilities.

Gearing-up for a ‘Shaky’ response

• FM responded to a question over India’s support on sanctions being “somewhat shaky” amongst Quad partners.
• Leaders asked whether there would be any “negative impact” on India’s relations with its closest allies.

India’s clear stance

• Indian foreign policy decisions are made in Indian national interest and we are guided by our thinking, our views and our interests.
• So, there is no question of linking the Ukraine situation to issues of trade, the FM clarified.

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