Page 20 - India-russia Ties

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

India can buy as much Russian oil as it wants, outside price cap: Yellen

The cap would still drive global oil prices lower while curbing Russia's revenues, Yellen said in an interview with Reuters on the sidelines of a conference on deepening U.S.-Indian economic ties

Buying oil from Russia is to India's advantage, says S Jaishankar

Says India's obligation is to ensure consumers get best access on 'most advantageous' terms

Live: PM Modi unveils the logo, theme and website of India's G20 Presidency

Catch all the latest updates from across the globe here

Russia, India stand for 'more just' and 'polycentric' world, says Moscow

Russia and India stand for the formation of a "more just" and "polycentric" world order and both sides demonstrated the proximity of positions on the most pressing issues, Moscow said on Monday, a day ahead of talks between the foreign ministers of the two countries. External Affairs Minister S Jaishankar begins a two-day visit to Russia this evening amid growing global concerns over increasing hostilities between Russia and Ukraine. In a statement, the Russian foreign ministry said Jaishankar and Foreign Minister Sergey Lavrov, in their talks, will focus on trade and investment, use of national currencies for trade, "promising projects" in the energy sector and the formation of a security architecture in the Asia-Pacific region. "Russia and India stand for the active formation of a more just and equal polycentric world order, and proceed from the inadmissibility of promoting the imperialist diktat on the global arena," it said. "Both countries demonstrate the proximity of position

India continues with Russian oil buys, cuts shipments from Saudi

Saudi Arabia's decline in India's oil market has coincided with Russia's rise, and ironically occurred amid growing diplomatic ties between Riyadh and New Delhi

Independence on a tightrope: India's foreign policy choice

India has carefully calibrated relations with Russia, but EU's decision to impose price cap on Russian oil will be the next testing point for India in balancing its national and strategic interests

Why India may have to rework Russian oil purchase if a price cap is imposed

India will have to follow a delicate balancing act if the West imposes a pricing limit on supplies from Moscow

Russian President Putin praises PM Modi for 'independent foreign policy'

Russia has special ties with India and they have always supported each other and will remain so in the future, President Vladimir Putin has said, as he praised Prime Minister Narendra Modi for pursuing an "independent foreign policy" in the interest of his country. Putin's remarks came at a plenary session of the Valdai International Discussion Club, a Moscow-based think-tank on Thursday. He said Russia and India continue to cooperate in the military and technical areas. We have special ties with India that are built on the foundation of really close allied relations for decades. We never had any outstanding issues with India, we have always supported each other and I'm positive that's how it will remain in the future as well, Russian state media RT quoted Putin as saying. Putin's comments came more than a month after Prime Minister Modi told him that today's era is not of war as they met on the sidelines of the Shanghai Cooperation Organisation's summit in Samarkand, Uzbekistan in

India's Russian oil binge sends West Asian imports to 19-month low

India's imports from the West Asia fell to about 2.2 million bpd, down 16.2% from August

Jaishankar, Lavrov to hold talks in Moscow on Nov 8: Russian ministry

External Affairs Minister S Jaishankar will travel to Moscow to hold talks with his Russian counterpart Sergey Lavrov on November 8, a Russian foreign ministry spokesperson said on Friday. The proposed visit comes amid a fresh wave of hostilities between Russia and Ukraine following a huge blast in Crimea nearly two weeks ago. "Russian Foreign Minister Sergey Lavrov will have talks with External Affairs Minister of India S Jaishankar on November 8 in Moscow," Russian Foreign Ministry Spokeswoman Maria Zakharova said. "The ministers will discuss the current state of bilateral relations and the international agenda," she added. There is no comment yet from the Ministry of External Affairs (MEA) on the proposed visit of Jaishankar. Since the Ukraine conflict began in February, Prime Minister Narendra Modi has spoken to Russian President Vladimir Putin as well as Ukrainian President Volodymyr Zelenskyy a number of times. In a phone conversation with Zelenskyy on October 4, Modi said

Russia's VTB Bank opens 'vostro' account in India for rupee-based trade

Russia's No.2 lender VTB said it had opened a special "vostro" account at its Indian branch that would allow for the more active use of Indian rupees in payments under import and export contracts

India to examine price cap proposal for Russian crude: Hardeep Singh Puri

India will examine the price cap on Russian oil proposed by the West, oil minister Hardeep Singh Puri said on Wednesday.

India to examine Russia oil price cap as refiners line up Dec crude buys

India has emerged as Russia's second biggest oil client after China as some western entities shunned purchases form Moscow following its late February invasion of Ukraine

India-Russia JV hopes for $5 bn in supersonic missile exports by 2025

The joint venture, with a 50.5% Indian and 49.5% Russian partnership, fits into PM Modi's flagship make-in-India programme

India unlikely to join G7 push to cap Russian oil prices to counter Putin

The move to cap prices of Russian oil comes amid efforts to reduce Russia's revenue to counter its advances in Ukraine war, with minimum impact on global energy crisis

Will weigh what Russia offers on Sakhalin-1 ownership revamp: Hardeep Puri

India maintains a "healthy dialogue" with Russia and will look at what is offered following announced ownership revamp to the Sakhalin-1 oil and gas project, Hardeep Singh Puri said

Russia bounces back to become India's second-largest crude supplier in Sep

Russian oil has become the mainstay of Indian refiners in only six months, a position which took decades for West Asian suppliers and the US to achieve

No difficulties with Russia on servicing of military equipment: Jaishankar

Asserting that it exercises a choice which it believes is in its national interest, India Tuesday said it has no difficulties with Russia on servicing of military equipment and spare parts in the aftermath of the war in Ukraine. "On the military equipment (from Russia), to the best of my knowledge, I don't think in recent months we have faced any particular problems in terms of servicing and spare parts supply of equipment that we have got in the past from Russia," External Affairs Minister S Jaishankar told reporters at a joint news conference with US Secretary of State Antony Blinken. "Where we get our military equipment and platforms from, that's not an issue, honestly, which is a new issue or an issue which has particularly changed because of geopolitical tensions," he said. India, he noted, looks at possibilities across the world. "We look at the quality of technology, the quality of capability, the terms on which that particular equipment is offered, and we exercise a choice .

UCO Bank, used by India for Iran payments, plans rupee trade with Russia

UCO Bank will put in place operational modalities before opening the account with the Russian counterpart, Prasad said, adding that there is no clear time line on when transactions can begin