<h1>India-Russia trade: Russia proposes insulating ties from third party pressure and using national currencies for settlement.</h1> Russia proposes creating an architecture to insulate India-Russia trade and energy ties from third party pressure, including mechanisms to settle trade in national currencies rather than the US dollar. The Kremlin acknowledged a significant trade imbalance favouring Russia and is exploring measures to increase Russian imports from India to address India's concerns. Officials cautioned that Indian purchases of Russian crude might decline briefly under western sanctions but stated that steps are being taken to avert lasting reductions and preserve trade volumes.