PM Modi Russia Visit: Modi-Putin made such a deal that America got upset

 | 
qq

PM Modi Russia Visit: After coming to power for the third time, Prime Minister Narendra Modi first went to meet India's closest friend Russia. Friend Russia welcomed Prime Minister Narendra Modi with warmth. PM Modi is returning to India after completing his two-day visit. He is bringing many gifts for the country with him. There is one gift which is increasing the anxiety of America. 9 agreements were signed between India and America on this visit, but this deal was also such that it was enough to increase America's blood pressure. This deal will end the dominance of the American dollar.  

aa

A deal was reached between Russia and India.

9 agreements were signed between PM Modi and Russian President Vladimir Putin. New Delhi and Moscow signed 9 agreements including trade, energy, climate, and research. India and Russia agreed on Wednesday to increase mutual trade to more than 100 billion US dollars by the year 2030. India and Russia have signed a bilateral trade deal of 100 billion dollars. Both countries have set a target of increasing bilateral trade to 100 billion dollars by the year 2030.  

The dominance of the US dollar will end, emphasis on transactions in national currencies.

In a joint statement after the meeting of PM Modi and Putin, India, and Russia agreed on the development of a bilateral settlement system using national currencies for trade. This move of India and Russia may upset the US. Modi and Putin have agreed on the development of a bilateral settlement system using national currencies, which means that payments for crude oil and other purchases between India and Russia will likely be made in Indian rupees. Russia, in turn, can use those Indian rupees to pay for imports from India. Similarly, the Russian currency ruble can also be used. Promoting trade with national currencies between the two countries will shock the US dollar.  

Preparing to beat the US dollar  

PM Modi and Russian President Putin agreed to use the currencies of both countries for trade to reduce the dominance of the US dollar. Russia's intention behind this deal is to defeat the sanctions of Western countries. At the same time, the dominance of the US dollar can be reduced. On the other hand, according to experts, Russia wants India to trade as much as possible in the Chinese currency Yuan along with the Rupee in view of the US sanctions. While Russia showed an inclination toward China, India's blunt answer was that it would not make any payment in Chinese currency. India has given Russia the option of payment in UAE currency instead of Chinese currency. Currently, trade is also being done between the two countries with this currency, which may be agreed to be increased further in the coming days. 

What other deals were made between India and Russia?  

Apart from trade settlement using national currencies, the two countries made several important deals including the transport of goods through new routes to facilitate trade, an increase in agricultural products, food, and fertilizer trade, an increase in cooperation in nuclear energy, strengthening dialogue for infrastructure development, investment in the digital economy, increase in trade through new routes like North-South Transport Corridor, promotion of joint projects and cooperation in the supply of medicines. Both countries agreed to strengthen sectors like transport engineering, vehicle production, and shipbuilding.  

Why is America worried? 

A target has been set to increase the trade between India and Russia to $100 billion. Currently, the trade between the two countries is $65 billion. Trade between India and Russia is being done in Rupees and Rubles, but now efforts are being made to increase this basket. Although Russia is not able to use Indian Rupees in the international market, now it will be able to use those Rupees for trade with India and investment in India. Overall, the pace of relations between India and Russia has made Western countries including America uncomfortable.