India Will Drop the Dollar to Trade with Russia, Replacing SWIFT

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As predicted, the extraordinary sanctions against Russia will in the long term hurt the West and damage or destroy the value of the US dollar.

In lieu of SWIFT – a Western financial system now blocking Russia – Russians will soon use a new system that allows direct rupee-ruble payments between Russia and India.

That is according to the president of the Federation of Indian Export Organizations (FIEO), A Sakthivel, speaking with CNBC on Wednesday.

The arrangement would allow India and Russia to carry out financial operations bypassing the US dollar. Russia is effectively blocked from using US currency due to Western sanctions over the conflict in Ukraine.

The US will become poor overnight as this becomes a pattern thanks to Biden and The Great Reset. Don’t think for a minute that the people behind Biden didn’t know they would destroy the US dollar with these sanctions. They are pushing The Great Reset, a feudalistic global system of governance.

According to the official, the Indian government is working on a proposal to allow up to five nationalized Indian banks to be engaged in the rupee-ruble trade mechanism, and discussions between the central bank governor, the finance minister, and the banks on the matter have already been held. The arrangement would let Indian exporters continue doing business with Russia despite sanctions banning, among other things, international payment mechanisms in the country, such as SWIFT. It would also let India continue buying Russian energy exports and other goods.

According to Sakthivel, the Indian economy could profit from sanctions Russia is facing, as they give Indian exporters an opportunity to expand on the Russian market.

Export to Russia is not much, only in agriculture and pharmacy products. Now that the whole of the West is banning Russia, there will be a lot of opportunities for Indian firms to enter Russia,” he stated.

RUSSIA IS NOT ISOLATED

India refused to sanction Russia. Between India and China, Russia doesn’t need the West, and the US in particular, any longer.

That is what Soros, Obama, Biden, and the entire team running the US government want. Of course, our government knew we wouldn’t isolate Russia and we would damage the US dollar. Remember, Obama wants us to be a mere cog in the wheel.

India’s finance ministry and the Reserve Bank of India have not yet commented on the new trade arrangement. India exported $3.3 billion worth of goods to Russia in 2021, mostly pharmaceutical products, tea, and coffee. In terms of imports, India bought $6.9 billion worth of Russian products, including arms and defense goods, mineral resources, fertilizers, metals, diamonds, and other precious stones. India also imports Russian oil, with recent media reports stating that the country’s major refiner, Indian Oil Corp, has stepped up purchases of Russian crude over the past month. India is also reportedly considering buying raw materials from Russia and Belarus for fertilizer production amid skyrocketing commodities prices.


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mjazzguitar
mjazzguitar
3 months ago

If the Saudis drop the petrodollar in retaliation for funding their enemies, that’s when the real fun begins.

SmokeyJoe876
SmokeyJoe876
3 months ago

IMO, those GDP numbers and what people want others to think they portray, are not reality. California at 3,13 and India at 2,66. I don’t believe a free, independent nation of California being up to or above the same level as a free, independent nation of India. Neither militarily (needed to remain free and independent) or industrially.

Pablo
Pablo
3 months ago

Yes!

Pablo
Pablo
3 months ago

India Owns Microsoft and I.T. No ones going to cross them or they will cut off the Information Technology support. Also the support for other companies. Blind eyes.

danny
danny
3 months ago

Except that it’s true. The world does not need the U.S. for anything. The U.S. no longer even makes anything. Only a fool would believe that.