Report: India restarts exports of tea, food to Russia
MOSCOW, Apr 19 (PRIME) -- India restarted tea and food exports to Russia last week, Indian business daily The Economic Times reported on Monday quoting sources familiar with the matter.
India has already sent batches of tea, rice, fruit, coffee, seafood, and confectionary mainly through the ports of Georgia. Several large banks service payments under the deals, including Sberbank and Alfa-Bank in Russia and Bank of Maharashtra in India, the business daily said.
Payments under the deals are done in rubles and rupees to the maximum possible degree, but some banks also conduct payments in euros, The Economic Times said.
India suspended delivery of its products to Russia previously over the uncertainty caused by the Western anti-Russian sanctions. Russia is one of the largest consumers of Indian tea in the world with imports of 43–45 million kilograms of tea per year.