US Dollar abandon in Russia and India

Russia and India have abandoned the dollar in mutual settlements. All payments are made in rubles and rupees, “Rosoboronexport” General Director Alexander Mikheev claimed.

"Traditionally, we call all transactions in dollars for the convenience of calculation. In reality “Rosoboronexport” has practically 100 % moved away from settlements in the US currency. As for India, all mutual settlements are made in rubles and rupees. In addition, we are actively practicing offsetting, which is also present in the contract documents we signed today. This is a normal modern practice, one of the trends of the world market," said Alexander Mikheyev, General Director of “Rosoboronexport”.

According to Mikheev, India has produced more than 220 Su-30MKI fighters under license, about 900 T-90S and 1,500 T-72M1 tanks.

"The long-standing cooperation with HAL Corporation on the licensed production of the Indian Air Force's most mass-produced aircraft, the Su-30MKI, continues. More than 220 units have been produced here. The HVF plant in India produces T-90 and T-72M1 tanks in the interests of the country's ground forces. About 900 T-90C and 1,500 T-72M1 tanks have already been produced. “Mango” projectiles are produced at the artillery factories of the Indian Defense Ministry," Mikheev enumerated.

He also stressed that India has always been and remains one of the key purchaser of Russian equipment for decades. And the main principle of cooperation is based on the "Make in India" program announced by the Indian government and successfully implemented by the industry.

According to Mikheev, the localization of Kalashnikov AK-203 automatic weapon production in India will expand from 5% to 70%, and ultimately to 100%.