India defies Western sanctions; Uses 'SWIFT' system with Russia - report

Indian companies are using the SWIFT global payment system to settle dollar payments with Russia, a top trade official said on Wednesday told Reuters, even though many Russian banks are blocked from the network due to Western sanctions. The West blocked access to SWIFT for several Russian banks, including Sberbank and VTB, soon after Moscow invaded Ukraine in February last year to target Russian trade, making it harder for Russian companies to do business. Watch this video for more.