India & Russia agreed to clear 2.5 billion Rupee-Rubble debt

Share post:

India and Russia agreed to clear the USD 2.5 billion Rupee-Rubble debt on wednesday. Both the countries have agreed to reinvest the debt funds for investments in projects in India and Russia.

The decision came at the end of the 11th session of Indo-Russian Inter-governmental Commission in Moscow today. Russian Deputy Prime Minister Zhukov, who co-chaired the meeting along with Indian External Affairs Minister Natwar Singh said the modalities for re-investment will be worked out by experts in due course of time.

Natwar Singh said an important area for cooperation with Russia is in the energy sector.

However, the Russian side is understood to have expressed concern over the delay in India concluding the bilateral negotiations on the subject.

Moscow is keen that these negotiations are concluded before the December Summit between President Vladimir Putin and Prime Minister Dr. Manmohan Singh in Moscow.

Austin K
Austin Khttps://www.megri.com/
I'm Austin K., a passionate writer exploring the world of News, Technology, and Travel. My curiosity drives me to delve into the latest headlines, the cutting-edge advancements in tech, and the most breathtaking travel destinations. And yes, you'll often find me with a Starbucks in hand, fueling my adventures through the written word

Related articles

Top 5 “WOAT” Meaning, Origin, and Use

What Is Meant by "WOAT"? Acronyms help people talk faster and more clearly in the world of constantly changing...

TikTok’s Newest Acronym: The Top 5 Best MDNI Meanings

The term "IMDN," which stands for "Minors Do Not Interact," is frequently used on social media sites such...

A First Timer’s Guide to Kayaking at Cave Point

Cave Point is one of the easiest places for someone to begin kayaking in Wisconsin. The steady shoreline,...

Rapid Online 3D Printing Solutions for EMEA

In recent years, the demand for 3D printing online solutions has surged across the EMEA region. Businesses are...