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Russia has refused from the US greenback in settlements for arms offers, as using nationwide currencies reduces the danger of delays in funds, the top of Rosoboronexport, Alexander Mikheev stated, Interfax reviews.
“We historically announce all our transactions in {dollars} for ease of calculation. In actual phrases, Rosoboronexport has deserted settlements within the American foreign money virtually utterly,” he famous.
Certainly, funds for arms gross sales between Russia and India are made in Russian rubles and Indian rupees.
Russian arms gross sales collapse
In 2020, Russian arms gross sales fell 6.5 p.c as compared with 2019 — from $28.2 to $26.4 billion. The indicator has been declining for 3 consecutive years now, with Russian firms displaying one of the appreciable declines amongst all different members of the market over the past interval.
Almaz-Antey Concern (produces air protection techniques, firearms for plane and armored autos, artillery shells and surface-to-surface missiles, airspace surveillance and coordination and artillery radars) has reported a decline in its gross sales volumes for the yr by 31 p.c; the United Shipbuilding Company — by 11 p.c. On the similar time, the United Plane Company has elevated its shipments by 16 p.c. Russia’s arms gross sales peaked in 2017, when Russian suppliers accounted for 5 p.c of the world market.
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