Modi Govt To 'Import' Discounted Russian Wheat After Oil; India May Settle Payments In Dollars

India is likely to import wheat from Russia at a discount after oil. Reuters reported that the move would allow Modi Government "to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July." One source told Reuters, "Russia has indicated its willingness to offer a discount on prevailing market prices. There are no restrictions on the export of food commodities from Russia." Watch for more details.