Archive · 29 Jul 2026
Russia Proposes Rupee Trade with Bangladesh
Russia has proposed to Bangladesh that they should trade using Indian rupees instead of US dollars.
This is because Western sanctions have made it hard for Russia to use regular banking systems.
Russia also wants to set up a direct banking link with Bangladesh.
There is a problem with Bangladesh repaying loans for a nuclear power plant, and they have different ideas on how to handle the money.
Russia wants the money back, but Bangladesh wants to use it for projects in their own country.
They are going to talk about these issues in a meeting soon.
Russia proposes settling bilateral trade with Bangladesh in Indian rupees to bypass Western sanctions.
The two nations are considering reviving plans for a direct banking link.
Bangladesh is struggling to repay loans for the Rooppur Nuclear Power Plant due to sanctions.
An interim arrangement involves depositing loan installments in a Sonali Bank account in Russia.
Russia has renewed its proposal to establish a branch of a Russian bank in Bangladesh.
- Who
- Russia and Bangladesh
- What
- Proposal to settle bilateral trade in Indian rupees
- When
- Upcoming meeting in September or October
- Where
- Bangladesh and Russia
- Why
- To bypass Western sanctions and facilitate trade
Russia's Perspective
Bangladesh's Perspective
Currency for Trade
Russia's Perspective
Russia proposes using Indian rupees for bilateral trade to bypass Western sanctions.
Bangladesh's Perspective
Bangladesh is considering the proposal but has not yet agreed.
Banking Link
Russia's Perspective
Russia wants to establish a direct banking link with Bangladesh.
Bangladesh's Perspective
Bangladesh is open to discussing the proposal but has not made a decision.
Loan Repayments
Russia's Perspective
Russia insists on direct loan repayments for the Rooppur Nuclear Power Plant.
Bangladesh's Perspective
Bangladesh proposes using the funds for investment projects within the country.
- Proposed Currency
- Indian Rupee
- Proposed Banking Link
- Direct banking link between Russia and Bangladesh
- Loan Repayments
- Difficulty in repaying loans for the Rooppur Nuclear Power Plant
- Interim Arrangement
- Funds deposited in a Sonali Bank account in Russia
- Upcoming Meeting
- Bangladesh-Russia Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation
- Meeting Schedule
- September or October
- Previous Proposal
- Settling payments in Chinese yuan
- Russian Bank Branch
- Proposal for a branch of a Russian bank in Bangladesh