FAQ: How do we pay our Russian partners?

30 June 2025

Indian businesses working with Russian partners often seek guidance on how to make payments. Below is an overview of how you can conduct transactions with Russia.

Settlements in rupees

Russian-Indian trade remains active thanks to a working scheme for rupee-based settlements. Businesses on both sides can open accounts with Sberbank — in Russia and in India — to facilitate legal and efficient transfers using online banking.

Step 1: Sending payments from Russia

A Russian legal entity can open a corporate account with Sberbank Russia, which supports international transactions to India. Once the account is opened, funds can be transferred online to a business partner’s account with SBER India or anу other Indian bank.

Learn more and apply here: Open a corporate account in Russia

Step 2: Receiving funds in India

The Indian partner receives the transfer to their account in rupees. If the account is with SBER India, they can manage it through the internet banking platform. Funds can then be transferred domestically within India via the intrabank or domestic payment options.

Step 3: Sending payments from India to Russia

To make payments in the opposite direction, Indian businesses can open an account with SBER India.

Apply for an account here: Open an account with Sberbank Branch in India

Step 4: Settling with Russian partners

While online international bank transfers from India to Russia are not available at present, the funds can be processed through Sberbank’s offices. Businesses are advised to coordinate with their relationship manager at SBER India for transaction-specific guidance.

How to make a payment

To transfer funds within India, customers can use intrabank payments (within Sberbank) or domestic payments (to other Indian banks) through the online platform.