Banks and traders in India have been asked to avoid settling payments for Russian imports in Chinese yuan until relations between India and China improve.
According to a Reuters report, authorities in India have advised banks, traders to avoid using yuan, however, settlements in UAE dirham will be fine.
Relations between India and China turned sour after the Galwan clash on the Line of Actual Control (LAC). It was after a series of commander-level talks that the withdrawal of troops took place, however, relations between the two countries are yet to improve.
Meanwhile, Kerala Chief Minister and CPI(M) leader Pinarayi Vijayan on Sunday congratulated Xi Jinping on his re-election as the President of China.
Marxist leader Vijayan said in a tweet that under Xi’s leadership, the communist nation has emerged as a major voice in global politics.
“Revolutionary congratulations to President Xi Jinping on being re-elected as the President of the People’s Republic of China. It is indeed commendable that China has emerged as a major voice in global politics. For the unremitting efforts to achieve a more prosperous China Best wishes, tweeted Vijayan.
China’s parliament on Friday unanimously endorsed President Xi for an unprecedented third five-year term.
Xi, 69, was re-elected as its leader by the biennial congress of China’s ruling Communist Party (CPC) in October last year, becoming the first Chinese leader since party founder Mao Zedong. In power beyond two five-year terms.
,With inputs from PTI,
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