If the alternative is to have the USA seize your dollar accounts (which they did) keeping it in the bank in India is better.
I’ve previously suggested that they will eventually adopt the Euro.
That works for everyone’s interest, the EU the BRICS. Everyone except the United States which goes to zero without the $US as the international currency.
Russia should have conducted the settlement in bitcoin, beyond the ability of any national authorities to thwart or seize.
Instead they agreed (no other choice?) to accept payment in rupees, and the Indians are blatantly exploiting them.
I'm not sure why people expect the people in power in the BRICS governments to give up their own power to debase their national currencies. They rail against America's undeniable benefit of seigniorage, but none of them actually want to renounce their capital controls, nor ability to inflate in national currencies and pay off their political support.
Why you think the Germans want to embrace Brazilian or South African spendthrifts after the way the Greeks shafted them deserves more explanation.
Lol, heads America wins, tails Russia loses. Poor Putin can't get a break.
Everyone except the United States which goes to zero without the $US as the international currency.
Ha - that's a take. Fine give me all of your worthless dollars then.