New Delhi: Talking about the Rupee-Rouble transaction arrangement between India and Russia, External Affairs Minister (EAM) S Jaishankar on Wednesday said that the government's effort is to stabilize economic transactions between the two countries on the light of close partnership.

Jaishankar made the remarks while replying to a question from Congress's leader in the Lok Sabha Adhir Ranjan Chaudhary on India's transactions with Russia, in light of sanctions on the latter, during a Rule 193 discussion on the 'situation in Ukraine'.

"Our effort today is to stabilize economic transactions between India and Russia because this is very important for us. Russia is a very important partner in a variety of areas and I think all honourable members (of Parliament) understand that," Jaishankar said.

Elaborating further on the arrangements in the work to facilitate transactions between the two countries, Jaishankar said, "At the moment there is an inter-ministerial group, which is led by the finance ministry, which is seeing how the payments issue can be best addressed, there are experiences from the past which are relevant in this regard."

"But I think this is quite honestly an issue where the Finance Minister would finally have to take the call," Jaishankar added.

The EAM addressed a host of issues in his nearly 45 minute address to the Lok Sabha, including the evacuation of Indians from Ukraine under Operation Ganga, the country's stance on the ongoing conflict in Ukraine, and also condemning the killings of civilians in Ukraine's Bucha, calling for an independent investigation.

He also said that the way forward for India to deal with the emerging 'new world order' is to reduce the country's dependency on the external world and fulfil 'Atmanirbhar Bharat'.

He urged countries to respect the international law, sovereignty and territorial integrity of all States.

"This should bear in mind that contemporary global order has been built on UN Charter, on respect for international law, and for the sovereignty and territorial integrity of all States. If India has chosen aside, it is for peace while calling for an immediate end to violence," said the EAM during the discussion.