India's Central Bank Announces International Trade Settlement in Indian Rupees

Re:India's Central Bank Announces International Trade Settle... by hunglee2 on Monday July 11, 2022 @12:26PM (#32058267)

Essential move for any nation which still has ambition to maintain strategic independence. Whatever you think of Modi, he is certainly an India nationalist, and not prepared to see his country turn into a vassal for any other state.

The weaponisation of dollar system accelerates its decline - predictable and inevitable.

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Re:India's Central Bank Announces International Trade Settle... by rayiner on Monday July 11, 2022 @12:53PM (#32058617)

The west’s weaponization of financial and technology systems they control against Russia is accelerating India and other countries in that orbit reevaluating their reliance on those systems. https://www.cfr.org/blog/besides-china-putin-has-another-pot...

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Re:India's Central Bank Announces International Trade Settle... by mc32 on Monday July 11, 2022 @01:14PM (#32058857)

I think you're right. We can only use this stick for so long before other countries wise up to the fact that something which wasn't politicized becomes a political tool --even if it's rationalized as "necessary".

There are some things which despite all differences, should remain, such as diplomatic representation, among other things.

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Re:India's Central Bank Announces International Trade Settle... by hunglee2 on Monday July 11, 2022 @01:00PM (#32058700)

Iran, Venezuela before that. Cuba, North Korea. Even China before 1971. It was possible but relative strength has changed.

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Re:India's Central Bank Announces International Trade Settle... by anon291 on Monday July 11, 2022 @04:09PM (#32061137)

India is much larger than all those countries, both population-wise and economically.

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