India's resolution to import extra oil from Russia has led to friction in its ties with Western international locations, together with the US, although Russian oil accounts for not more than 2% of its whole oil imports. India has defended its buy saying regardless of the sanctions Europe itself continues to import Russian vitality. Russia exports appreciable quantities of fertilisers to the Brics states and Putin stated Russian IT firms are increasing their actions in India and South Africa.
“Along with Brics companions, we're growing dependable different mechanisms for worldwide settlements. The Russian monetary messaging system is open for reference to the banks of the Brics international locations. We're exploring the potential of creating a world reserve foreign money primarily based on the basket of Brics currencies,” stated Putin.
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