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People queue outside a branch of Russian state-owned bank Sberbank.
While the US's sanctions on Russia are hitting some payments, they're going through just fine with India, says Sberbank.

MICHAL CIZEK/AFP via Getty Images

  • Russia's Sberbank says it is processing transactions with India smoothly, despite Western sanctions.
  • Sanctions prevent Sberbank from using US dollars, euros, and the SWIFT network.
  • But Sberbank is now processing transactions for Russia-India trade in rubles and rupees efficiently.

Sberbank — Russia's largest lender — has no problems processing payments with India, a top executive told Reuters on Tuesday.

Tags
economy, Russia, foreign-trade, India
Source
Russia's largest bank says it has no problems transacting with India