Russia has backed India’s efforts to help end the Ukraine conflict and said Moscow is not pursuing a formal “de-dollarisation” agenda. The comments come ahead of the BRICS summit in India where global economic cooperation and the Russia-Ukraine conflict will likely remain major issues.
Kremlin spokesman Dmitry Peskov said Russia is open to other acceptable payment methods and does not see de-dollarisation as an objective in itself. He was speaking at a virtual meeting with Indian journalists ahead of the BRICS leaders’ summit.
Russia Welcomes India’s Peace Efforts
India has repeatedly called for dialogue and diplomacy as the way to resolve the Russia-Ukraine conflict. External Affairs Minister S Jaishankar said recently New Delhi is in touch with Moscow and Kyiv and willing to help reduce tensions “and find a way towards peace.”
Moscow’s backing of India’s diplomacy shows how important Russia sees its relationship with New Delhi. India has kept in touch with both sides throughout the conflict and called for negotiations and peaceful resolution.
This is especially true because the war goes on despite repeated diplomatic efforts. U.S.-Russia-Ukraine talks recently have not produced a breakthrough yet, and fighting continues on the ground.
Kremlin Clarifies Dollar Position
Peskov’s remarks on de-dollarisation also come at a time when the global debate over US dollar role in international trade is still raging. Russia has increasingly used alternative payment arrangements since Western sanctions disrupted parts of its traditional financial system.
But the Kremlin now says Moscow isn’t trying to get rid of the dollar in international trade. Russia is still open to different currencies and payment mechanisms where they are practical and mutually acceptable.
The clarification could be important for discussions within BRICS where members have talked about using more national currencies and alternative financial mechanisms.
India-Russia Ties Remain Important
The BRICS summit next month will give the Indian and Russian leaders an opportunity to discuss bilateral relations as well as major international issues. Vladimir Putin will meet Prime Minister Narendra Modi during his visit to India. They are likely to talk about trade, economic cooperation, defence and the Ukraine crisis.
For New Delhi, strategic ties with Moscow and engagement with Western countries are part of its foreign-policy strategy. India’s emphasis on dialogue gives it an opportunity to position itself as a bridge between countries with conflicting interests.
Russia’s latest statements thus signal two parallel themes: support for India’s diplomatic work on Ukraine and a more flexible position on international payment systems. The BRICS summit is coming up so both issues are going to be given further attention on the global stage.
