ENA Knowledge Resource 2022-12-12 10:28:16 <p><span style="font-size:14px"><strong>New Delhi, Dec 12 (KNN)</strong> Ever since the launch of Rupee settlement system by Reserve Bank of India (RBI), Indian exporters are expecting shipments to Russia to be settled in rupees next week, reported Mint.</span></p> <p><span style="font-size:14px">Lately the sanction-hit Russia has increased inquiries for products such as drugs and automobile parts as the war in Ukraine enters its 10th month.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">According to Federation of Indian Export Organisations (FIEO) director general Ajay Sahai a number of issues have been sorted out. </span></p> <p><span style="font-size:14px">Exporters and importers have begun approaching banks for opening of the accounts, he said.</span></p> <p><span style="font-size:14px">Sahai informed that, hence trade settlement with Russia under the new payment system is expected from next week for some shipments. </span></p> <p><span style="font-size:14px">This assumes significance amid a widening trade gap between Russia and India. <em><strong>(KNN Bureau)</strong></em></span></p> 31525 https://knnindia.co.in/news/newsdetails/knowledge-resource/rupee-settlement-system-for-russian-shipment-to-be-tested-next-week 2022-12-12 10:28:16 knnindia.co.in