During a Russian-Indian business conference in New Delhi this week, the Deputy Chairman of the State Duma, Alexander Babakov, suggested that Russia, China and India should trade using a common digital currency. He stated it was a top priority, according to Russian News Agency Tass.
“Our first goal is to write new rules in the financial sphere that will enable the use of an already common currency. It doesn’t matter whether it’s a digital ruble, a digital rupee, a digital yuan, or some other currency. But it is critical that this currency follow the laws of our respective nations,” he said.
His key point is he wants to use rules not set by the West. Talking about the currency he stated that,” Its creation should be based on establishing new financial ties based on a system that does not safeguard today’s dollar and euro, but rather creates a new currency capable of serving our goals.”
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