Bangladesh, July 30 -- Russia has proposed settling bilateral trade with Bangladesh in Indian rupees to overcome payment difficulties caused by Western sanctions, while also reviving plans to establish a direct banking link between the two countries.History
The proposal includes conducting trade in rupees, creating a dedicated payment infrastructure and allowing a Russian bank to open a branch in Bangladesh.
Analysts say the move could reduce dependence on the US dollar in Bangladesh-Russia trade and provide an alternative mechanism for transactions affected by sanctions.
However, they caution that Bangladesh will need to carefully consider the diplomatic, financial and regulatory implications before making a decision.
According to the ...