India started exploring a rupee settlement mechanism with Russia soon the invasion of Ukraine in February last year, but there has been no reported deal done in rupees. "We don't want to push rupee settlement any more, that mechanism is just not working. Another official said both countries have started looking for alternatives after the rupee settlement mechanism did not work out but did not give details. Reuters GraphicsTRADE ON TRACKThe sources said trade with Russia has been continuing despite sanctions and payment issues. So payments are being made to a third country which route it or offset it for their trade with Russia," the other official said.

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