INDIA-RUSSIA-Exclusive-India, Russia suspend This would be a major setback for Indian importers of cheap oil and coal from Russia who were awaiting a permanent rupee payment mechanism to help lower currency conversion costs. With a high trade gap in favour of Russia, Moscow believes it will end up with an annual rupee surplus of over $40 billion if such a mechanism is worked out and feels rupee accumulation is 'not desirable', an Indian government official, who did not want to be named, told Reuters.
