Russia's Sberbank says India business booming despite Western sanctions

Russia's trade with India is thriving, with Sberbank handling up to 70% of Russian exports to the country. Trade between the two nations nearly doubled to $65 billion in 2023. Despite Western sanctions affecting other markets, Sberbank has faced no operational issues in India. The bank is actively using Indian payment systems and sees no rupee surplus problems, thanks to increased Indian exports to Russia.