{"id":199474,"date":"2007-07-24T21:36:00","date_gmt":"2007-07-25T02:36:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/07\/24\/russia-wants-india-to-dump-dollars-and-use-euros-for-future-arms-deals\/"},"modified":"2007-07-24T21:36:00","modified_gmt":"2007-07-25T02:36:00","slug":"russia-wants-india-to-dump-dollars-and-use-euros-for-future-arms-deals","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/07\/24\/russia-wants-india-to-dump-dollars-and-use-euros-for-future-arms-deals\/","title":{"rendered":"Russia Wants India to Dump Dollars and Use Euros for Future Arms Deals"},"content":{"rendered":"<p>This is significant.  Russia considers the protection of its remaining defense infrastructure to be a crucial part of both its economy and its military capabilities.  The fact that it is willing to risk alienating India over this <a href=\"http:\/\/fourtyyears.blogspot.com\/2007\/07\/huge-indian-fighter-jet-tender-enters.html\">in the midst of a huge competition to replace the IAF&#8217;s MiG 21s<\/a>, indicates that they have a very real concern about the dollar crashing.<\/p>\n<blockquote><p><span style=\"color: rgb(0, 0, 153);font-size:130%;\" ><a style=\"font-weight: bold;\" href=\"http:\/\/www.aviationnow.com\/publication\/awst\/loggedin\/AvnowStoryDisplay.do?fromChannel=awst&amp;pubKey=awst&amp;issueDate=2007-07-23&amp;story=xml\/awst_xml\/2007\/07\/23\/AW_07_23_2007_p36-364724.xml&amp;headline=A+Euro+Exchange+for+India%27s+Russian+Accounts&amp;INTERCEPT_MESSAGES=S_LOGIN&amp;PRIOR_REQUEST_URL=%2Fpublication%2Fawst%2Floggedin%2FAvnowStoryDisplay.do%3FfromChannel%3Dawst%26pubKey%3Dawst%26issueDate%3D2007-07-23%26story%3Dxml%2Fawst_xml%2F2007%2F07%2F23%2FAW_07_23_2007_p36-364724.xml%26headline%3DA%2BEuro%2BExchange%2Bfor%2BIndia%2527s%2BRussian%2BAccounts\">A Euro Exchange for India&#8217;s Russian Accounts<\/a><\/span> (Subscription Required)<br \/><span style=\"color: rgb(0, 0, 153);\">Aviation Week &#038; Space Technology<\/span><br \/><span style=\"color: rgb(0, 0, 153);\">07\/23\/2007, page 36<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">Neelam Mathews<\/span><br \/><span style=\"color: rgb(0, 0, 153);\">New Delhi<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">India considers shift from the dollar for its Russian military contracts<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">Printed headline: A Euro Exchange<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">A fallen dollar has pushed India into a corner on its Russian military contracts.<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">A recent Russian insistence that India must pay more for defense equipment\u2014how much is not known\u2014to offset the effects of a weaker dollar has unnerved the Indian defense ministry, which already faces demands for an additional $10 billion in procurement.<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">India, which wants to keep its Russian military purchases on track, has begun studying Russia\u2019s suggestion to convert purchases to the euro. But if it chooses to do so, the bill would be high: The exchange rate is currently nearly $1.38 to \u20ac1.<\/span><\/p>\n<p><span style=\"color: rgb(0, 0, 153);\">&#8230;<\/span><\/p><\/blockquote>\n<p>Is this another nail in the dollar&#8217;s coffin?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is significant. Russia considers the protection of its remaining defense infrastructure to be a crucial part of both its economy and its military capabilities. The fact that it is willing to risk alienating India over this in the midst of a huge competition to replace the IAF&#8217;s MiG 21s, indicates that they have a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,1008],"tags":[],"class_list":["post-199474","post","type-post","status-publish","format-standard","hentry","category-currency","category-defense-procurement"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199474"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=199474"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199474\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=199474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=199474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=199474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}