Congress spokesman Prof. Gourav Vallabh has dug out this sensational disclosure and told a press conference here on Monday as to “why can’t India make the payment for the Russian crude in the Indian rupees despite the Reserve Bank of India (RBI) allowing India to open Vostro accounts to Indian and Russian banks to settle our payments in Rupee.
However, the Indian refiners are settling the payment since last month to the Russian crude providers in Yuan, the Chinese currency. Prof. Gourav wanted to know why India is trying to internationalise the Chinese currency instead of making payments in the Indian Rupee.
He fired three questions at the Prime Minister:
1. On one side you are claiming that we are getting cheaper Russian crude, but not transferring even a paisa of benefit to the final consumers and you are rather helping China to internalise its currency, to globalise its currency in your favour. Proof is the Global Times that says the Indian refiners reported Yuan purchase for the Russian oil to accelerate de-dollarisation that will help the Chine currency the global currency.
2. Why India scuttled payments in the Indian Rupee? Why in the last nine years, we have lost the goodwill or in your terms, the value of the Rupee kept falling as the government’s credibility kept falling? Why the goodwill of your government is declining day-by-day?
3. And, last but not the least Modi ji, if you feel that the Indian currency is not strong enough to e paid, they why in the entire world you have picked up only the Chinese currency for paying to the Russian crude oil suppliers?
Prof. Gourav, an economist of repute, said the Indian Rupee also has the strength to internationalise it instead of promoting Yuan. All three refiners making payments in Yuan are the public sector undertakings and they would not have used Yuan for payments unless told by someone at the top, he said. He also referred to many private cement companies also paid in Yuan for import of plants or infrastructure.
He said as against import of the Russian crude worth Rs 7,000 crore in 2021, right now in 2023 it is Rs 89,000 crore as 42% of our crude import is from Russia.
The professor chose to link up all these with Modi’s five trips to China and 18 meetings with Xi Jinping and he gives clean chit to China by denying any intrusion by China while the Chinese companies are giving a big donation or subscription in PM Care Funds. He also quotes other events like supreme sacrifice by 20 soldiers, another 20 injured in a clash with the Chinese in Arunachal Pradesh and India remain mum on China suo moto changing the names of 11 villages and towns in India are all interlinked with Modi ordering payments to Russia in Yuan.
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