Short rounds like this one are usually sung in their original languages. That makes us feel international without straining our memories.

Margarita wrote: And you can sing it backwards and forwards at the same time, and it sounds good!

Actually, being a one-chord round, you can even sing it in, say, eight parts, to symbolize the way rowing is done at The Other Place (wishful thinking).

16 parts forwards and 16 backwards are ok as well, so you can accomodate 32 languages simultaneously, including ИAI??UЯ, without anyone noticing the mistakes.