Insta
S-400 Air Defence System: India To Pay Russia In Rupees For The Missile Shield, Delivery To Start From 2023
Russian President Vladimir Putin (R) listens to India’s Prime Minister Narendra Modi during a ceremony. (ALEXANDER NEMENOV/AFP/Getty Images)
The delivery of S-400 Triumf missile defence systems to India will start in 2023 and the mode of payment for the Russian system will be Indian currency, a Russian official said on Wednesday (28 August).
The confirmation of delivery comes days ahead of Prime Minister Narendra Modi’s visit to Vladivostok, Russia to attend the Eastern Economic Forum (EEF) summit as chief guest.
"The delivery of S-400 will start in 2023 as per the contract which was inked in 2018. The mode of payment will be in Indian currency," said Yarsolav Tarasyuk, Russian trade representative to India, reports Financial Express.
"We need to find ways to eliminate dependency on the US dollar. The US dollar is distrusted worldwide,” he added.
According to the report, another Russian diplomat informed that the payment will be made through banks on both sides.
Both India and Russia have decided on this mode of payment to ensure that there is no delay in the delivery of the missile system to India.
Earlier in October 2018, India had signed a $5.2 billion deal with Russia to buy five S-400 Triumf missile defence systems during the visit of Russian President to New Delhi.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
