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India, Russia seek to skirt US sanctions threat to arms deals

Bloomberg
| Updated:
Jul 15,
2019,
(/articleshowprint/70231272.cms) ... AA 32
19:33 IST

The US has been pushing New Delhi to cancel a more than $5

billion contract to buy Russian advanced S-400 air-defence missile systems.
HIGHLIGHTS

India and Russia have agreed on a new payment method through their national currencies for multi-billion-dollar defence deals

The arrangement would enable India to pay the first installment soon for two warships that Russia is building for its navy

But the new mechanism may still be dependent on India winning agreement from US not to impose sanctions in retaliation

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India and Russia (http://timesofindia.indiatimes.com/topic/Russia) have agreed on a new payment method

... AA by32
through their national currencies for multi-billion-dollar defence deals, in a bid to avoid risks created the