Page 23 - India Russia

Russian arms sales to India stall due to fears over sanctions from US

Indian payments for weapons amounting to more than $2 billion have been stuck for about a year, and Russia has stopped supplying credit for a pipeline of about $10 billion worth of spare parts

Indian business delegation to visit Russia to explore agri exports

The exporters expect to sign deals for selling a wide range of products including tea, sugar, coffee, dairy, meat, and marine products, the official said

India's trade deficit with Russia grows seven-fold to $34.79 billion

MIND THE GAP: Ever-growing trade gap due to consistent rise in imports from Russia after its stand-off with Ukraine

FM Sitharaman, Russian Dy PM Manturov discuss economic cooperation

Union Finance Minister Nirmala Sitharaman on Tuesday held a meeting with Russian Deputy Prime Minister Denis Manturov in New Delhi. The two leaders exchanged views on strengthening economic and financial cooperation in to promote bilateral investment and trade.The Ministry of Finance in a tweet said, "Union Finance Minister Smt. @nsitharamanmet Mr. Denis Manturov, Deputy Prime Minister and Minister of Industry & Trade of the Russian Federation, today, at New Delhi."In another tweet, the Ministry of Finance stated, "Both Ministers exchanged views on strengthening economic and financial cooperation in areas of mutual interests to promote bilateral investment and trade."Denis Manturov, who is also Russia's Minister of Industry and Trade on Monday arrived in New Delhi to co-chair the Intergovernmental Russian-Indian Commission.On Tuesday, Russian Deputy Prime Minister Denis Manturov and External Affairs Minister S Jaishankar attended the 24th meeting of the Intergovernmental ...

India's Russian crude oil imports double of Iraq at 1.64 mn barrels per day

India's imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq - the nation's traditional top oil supplier. But the purchases appear to have plateaued as growth has slowed. Russia continued to be the single largest supplier of crude oil, which is converted into petrol and diesel at refineries, for a sixth straight month by supplying more than one-third of all oil India imported, according to energy cargo tracker Vortexa. Refiners continue to snap up plentiful Russian cargo available at a discount to other grades. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict in February 2022, Russia's share of India's imports rose to 1.64 million barrels per day in March, taking a 34 per cent share. The purchases from Russia in March were double of 0.82 million barrels per day (bpd) of oil bought from Iraq, which has been India's top oil supplier

Fuels from Russian crude oil get backdoor entry into Europe via India

Access to cheap Russian crude has boosted output and profits at Indian refineries, enabling them to export refined products competitively to Europe and take bigger market share

Russia shifts to Dubai oil price benchmark in Indian oil deal: Report

The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark is part of a shift of Russia's oil sales towards Asia after Europe shunned Russian oil

Fact check: Did Asle Toje call PM Modi biggest contender for Nobel Prize?

Reports claimed that deputy leader of the Nobel Prize Committee Asle Toje endorsed PM Narendra Modi for the coveted prize. But did he really say so? Find out here

Each country to make own decision: US official on India buying Russian oil

The United States has said that each country is going to make its own decision when asked about India's ties with Russia and purchase of oil from Russia

India not to cut Russia ties, hope it can use influence to stop war: US

I don't think they're going to end those relations anytime soon, but we are talking to them about the role they can play in this conflict, Lu added

1 year of Ukraine war: Cheaper crude from Russia pushes India's import bill

Exports to Russia contracted 13.5 per cent at $2.2 billion during the first three quarters of the current fiscal year

Managing a crisis: Russia-Ukraine war outbreak a setback for Indian economy

But its impact has been kept under check

As G20 finance chiefs gather, Yellen calls for more economic aid to Ukraine

Yellen, speaking at a news conference in India on the eve of the first anniversary of the Russian invasion

India steel imports from Russia rise to eight-year high in April-Jan: Data

India's imports of Russian steel rose to an eight-year high during the first 10 months of the financial year that began in April 2022, government data compiled by Reuters showed

Western sanctions against us a catalyst for trade with India: Russia

Last year, bilateral trade and economic cooperation between the two countries received a powerful impetus and mutual trade reached almost USD 30 billion

India's imports from Russia goes up by 384% in April-Jan: Commerce Ministry

India's imports from Russia has jumped about five times to USD 37.31 billion during April-January this fiscal on account of increasing inbound shipments of crude oil from that country, according to the commerce ministry data. In 2021-22, Russia was India's 18th largest import partner, accounting for USD 9.86 billion of imports. Russia has become India's fourth largest import source during the 10-month period of the current fiscal. India's appetite for Russian crude oil in January rose to unseen levels, continuing to remain above traditional middle eastern suppliers for the fourth month in a row, as refiners rushed to snap up plentiful cargoes available at a discount to other grades. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share of India's imports rose to 1.27 million barrels per day in January, taking a 28 per cent share, according to energy cargo tracker Vortexa. India, the world's third-larges

Russia supplied arms worth $13 billion to India in last five years: Report

Annual arms exports were about $14 billion to $15 billion, and the order book has remained steady at around $50 billion, Interfax reported

Reliance, BPCL, Nayara among buyers using UAE dirham for Russian oil

India is the UAE's second-largest trade partner and officials are working on a mechanism to boost trade in dirhams and rupees

No unified global energy market, security, says Russia-based Rosneft's head

There is no unified global energy market and energy security is no longer global, Russia's powerful oil executive Igor Sechin said amid talk for countries coming together to check volatility in prices and ensure smooth transition to net zero. Speaking at the India Energy Week here, Sechin, chief executive of Rosneft, said all principles of market trading have been destroyed and market pricing and contract law abolished. Russia was slapped with sanctions by some Western countries following the war in Ukraine. Some countries in Europe stopped buying contracted natural gas. Russian crude oil was shunned, leading to it being traded at a discount to international rates. This meant that while all major benchmark crude oil moved in a particular fashion, Russian crude was traded at discounts as high as USD 40 per barrel. "There is no unified global energy market, and energy security is no longer global," he said. Russia, he said, achieved more significant results than many of the world's

We are the largest oil supplier to India: Russian Ambassador to Delhi

Russia has a lot to offer to India and vice-versa in all these areas, with western companies leading, Russian Ambassador to India added