Russia And India Ditch Dollar In Military Deals | WHAT REALLY HAPPENED


Russia And India Ditch Dollar In Military Deals

With the US increasingly willing to use the dollar, and SWIFT, as a strategic weapon against the country's sovereign enemies (as Iran learned every 5 or so years), Russia and India are preparing to bypass US sanctions on Moscow by using the rupee and the ruble in bilateral trade involving military deals, the Economic Times reported.

Some $2 billion in weapons deals between India and Russia have been hit as a result of the recent US sanctions, as payments get stuck. The countries are seeking to bypass such monetary bottlenecks this by switching to settlements in domestic currencies and ditching the greenback.

Senior officials told ET that after several rounds of consultations, it has become clear that a rupee-rouble transfer, pegged to the exchange rate of an international currency, is the solution. A top official said that a foreign currency, such as the Singapore dollar, could be used as the benchmark.

Webmaster's Commentary: 

So what is the US government going to do, invade every country ditching the US dollar?!?

That... is going to be one heck of a lot of invasions, given the tempo at which the US dollar is being abandoned.

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