ENA Global 2022-03-02 06:25:33 <p><strong>New Delhi, Mar 2 (KNN)</strong> Approximately USD 400-500 million worth of payments of Indian exporters is stuck in Russia owing to the sanctions imposed by United States, EU and other western countries as a response to its invasion in Ukraine.</p> <p>Sectors such pharmaceuticals and farm are optimistic about receiving their payments, however the other sectors are still in a limbo. </p> <p>It has been reported that several consultation meetings have been held by the government to help businesses clear their due from Russian buyers. </p> <p>It will be a huge problem for exporters to send fresh consignments as the Maersk, the largest shipping lines in containers has currently stopped deliveries to and from Russia.</p> <p>The main worry of exporters is the about the shipments that have already been sent and for this problem certain alternatives have been discussed in the meeting. </p> <p>Routing payments through a third nation is also been discussed as an option for companies with large operations.</p> <p>Although the payment can be received in India without any issue, certain relaxations has been the key demand of the exporters. <em><strong>(KNN Bureau)</strong></em></p> 28515 https://knnindia.co.in/news/newsdetails/global/western-sanctions-on-russia-puts-indian-exporters-payments-on-hold 2022-03-02 06:25:33 knnindia.co.in