New Delhi wants its own rupee-rouble trade, just like that between Russia and China using their own currencies. Despite being a member of the Quad, India may have as much incentive to see the dethroning of the dollar dominance in international trade and its weaponisation
New Delhi is pushing to protect the country’s bilateral trade with Russia using the rupee and rouble. This comes after the outbreak of hostilities to bypass Western-led sanctions. China and Russia have been expanding bilateral trade using the yuan and rouble long before the current conflict in Ukraine.
According to the Hindustan Times, "As the Ukraine conflict deepens, India has stepped up efforts to secure critical imports from Russia, particularly potassium chloride (popularly known as muriate of potash), a key fertiliser, and sunflower (edible) oil.
India mulls buying discounted Russian oil and commodities, say officials