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Top Russian banks say exporters can now get trapped funds from India

    Russia's top lenders Sberbank and VTB have said they are improving their ability to convert rupees into roubles, helping exporters to get funds effectively trapped in India due to Western sanctions. After Moscow despatched troops to Ukraine in February 2022, Western countries imposed sweeping sanctions and have sought to wean themselves off Russian energy exports. India has been a major beneficiary, picking up Russian oil on the cheap.

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