India Mulls Russian Offer Of SWIFT Alternative For Ruble Payments As Lavrov Visits

"India is considering a proposal from Russia to use a messaging system developed by the
Russian central bank for bilateral payments as New Delhi isn’t following the US-led economic campaign against Moscow, Bloomberg reported on Wednesday.

Sources told Bloomberg that the plan involves using Russia’s messaging system, known as SPFS, for rupee-ruble-denominated payments. The proposal is expected to be discussed as Russian Foreign Minister Sergey Lavrov arrives in India for his two-day visit on Thursday." ZH