Russia on Monday described the recent India-China pact on patrolling arrangements at the LAC as a positive development in bilateral ties and welcomed the talks between Prime Minister Narendra Modi and Chinese President Xi Jinping on the sidelines of the BRICS summit in Kazan.

The agreement between the two countries was good news and Moscow was happy to learn about the progress in talks between the two countries on the border issue, Russian Ambassador Denis Alipov said at a media conference.

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On the Modi-Xi meeting, he denied Russia had any role to play in it but said he was happy it took place in Kazan.

He said Russia too had border issues with the Chinese. ”We managed to arrive at a mutually acceptable solution. No doubt India, China will be successful in border problems. It would require determination, an open heart approach and trust,” he added.

Mr Alipov said the recent BRICS Summit in Kazan was a “total success” and asserted that the grouping is “not an exclusive but an inclusive platform”. BRICS, he said, is not anti-West but non-West.

On India-Russia ties, the envoy said the two countries were considering different ways to step up trade, including establishing a direct trade payment system in rubles and rupees. He said both countries were working towards making bilateral payments more feasible despite financial hurdles.

“Both [India and Russia] are thinking about a ruble-rupee trade mechanism,” Mr Alipov said. “I’m not a big specialist in finances, but there is no direct exchange of rupee and ruble currently. The problem is not the exchange rate; the biggest challenge is the over-cautiousness of Indian banks regarding transactions with Russia.” He attributed this hesitation to pressure from the United States, noting, “The US has been meticulous in tracking transactions between India and Russia, even threatening sanctions.”

Mr Alipov wondered why India should be restricted to working only with US-aligned countries, and said , “Today it is necessary for India to settle its relationship with Russia; tomorrow the US might ask India to curb its relationship with Bangladesh, for example. There might be an endless list of countries the US decides upon.”

The ambassador then stressed the need for India, Russia, China, and other nations to have an equal say in global financial matters. “It is necessary for India, Russia, China, and other members, the vast majority of the world, to have an equal voice in various issues of global financial cooperation.