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Russia has proposed a mechanism for settling trade with Bangladesh in Indian rupees to bypass US sanctions and facilitate payments for the Rooppur Nuclear Power Plant, according to Bangladeshi media. Dhaka has been unable to make loan repayments for the Russian-financed NPP due to US sanctions on Russian banks.
The estimated cost of the two-reactor, 2,400 MW plant is about US$13 billion, with Russia providing a government loan covering 90% of the amount. Russia has also taken on long‑term obligations to supply nuclear fuel, perform technical maintenance, and manage spent nuclear fuel.
Moscow’s proposals to overcome the disruption in payment are likely to be discussed at bilateral talks to be held later this year, according to unnamed officials in Dhaka’s Economic Relations Division (ERD).
It has also been reported that Moscow has proposed establishing a bilateral payment infrastructure and renewed its proposal to open a local Bangladesh branch of one of the Russian banks.
Apart from the nuclear power plant, trade between Moscow and Dhaka is currently too small to justify building a mechanism for making national-currency payments.
Part of India’s and Russia’s bilateral trade is settled in Indian rupees. Dhaka also reportedly trades with New Delhi in Indian rupees, along with the US dollar and other foreign currencies.
Dhaka exported goods worth US$245 million to Russia during the July-May period of the current 202/26 fiscal year, according to the Bangladesh Export Promotion Bureau.
Our recent coverage of the current 2026 Russia-Bangladesh trade dynamics is here.
