Page 23 - India Russia

India's oil imports from Russia rebound in November on Diwali demand

India has boosted purchases of Russian oil sold at a discount after imports from Russia were shunned by some Western countries following its invasion of Ukraine last year

In India, Russia calls for 'extra efforts' to overcome payment hurdles

Aiming at strengthening economic ties with India, Russia's envoy to India on Monday said payment problems hinder trade and there is a need for "extra efforts" from banks and exporters to overcome this hurdle. Denis Alipov, Russian Ambassador to India, said that the Vostro trade settlement mechanism (Rupee payment) did not work well. "Some extra efforts are needed by companies and banks to explore the conditions," he said. He, however, did not elaborate on what he meant by "extra efforts". In response to a question on the sidelines of an MCCI-organised interactive session, he emphasised the necessity for additional efforts from Indian banks and exporters to resolve this issue. Though he admitted that resolving the payment method would require much fine-tuning, Alipov said banks are willing to cooperate. On the defence deal for the advanced long-range surface-to-air missile defence system S-400, Alipov acknowledged delays but said supplies are on but in a new schedule. Sanctions l

Imports from Russia up 64% to $36.27 bn in Apr-Oct; crude, fertiliser tops

India's imports from Russia rose 64 per cent to USD 36.27 billion during the April-October period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first seven months of this fiscal. The imports were USD 22.13 billion during April-October 2022. 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 oil imports rose to over 40 per cent. India, the world's third-largest crude importer after China and the United States, has been buying Russian oil after some countries in the West shunned it as a means of punishing Moscow for invading Ukraine. The ministry's data showed that imports from China dipped marginally to USD 60.02 billion during the period against USD 60.26 billion in the year-ago period. Similarly, imports from the US declined 16 per cent to USD 24.89 billion

India-Russia new sea trade route plan in final stages of clearances

The Indian authorities have identified coking coal, crude, liquefied natural gas (LNG) and fertilisers as major commodities that will be traded in the route

India pushes back against Russia's demands to pay for oil imports in yuan

Indian Oil Corp., the biggest state refiner, had made a yuan payment for Russian crude in the past, although the government has since clamped down on that

IAF to equip Russian-origin Su-30MKIs with indigenous 'Virupaaksha' radar

Virupaaksha is one of the names of god Mahadev worshipped by Hindus living across the world

Amid declining Indian imports, shipments from Russia, Hong Kong see growth

In the realm of exports, India saw diverging trends among its top 10 markets

Russia surpasses UAE as India's top naphtha supplier amid discounts

The LSEG showed India imported about 670,000 tonnes of naphtha from the UAE in January to September, down from around 726,000 tonnes in the same period last year

Indian Air Force to procure weapons worth Rs 2.5-3 trn in next 7-8 years

Chaudhari said the IAF was constantly monitoring the situation along the Line of Actual Control (LAC), especially in eastern Ladakh

India participates in 5th Moscow Format Consultation meeting on Afghanistan

Taliban-appointed acting minister for Foreign Affairs in Afghanistan, representatives of Saudi Arabia, Qatar, United Arab Emirates and Turkey also attended the meeting

India-Russia relations "very, very steady", says EAM S Jaishankar

India-Russia relations have held very, very steady and we take great care to make sure that the relationship is working, External Affairs Minister S Jaishankar has said. During a conversation at the Council on Foreign Relations here on Tuesday, Jaishankar said that Russia's relationship with Europe and the West has been so severely disrupted in the wake of the February 2022 Ukraine war that Moscow is actually turning to Asia and other parts of the world. The India-Russia relationship has actually held very, very steady, he said, adding that there has been the Soviet period and post-Soviet period. Part of it is that I think there is an understanding in both countries that as big powers in the Asian continent, there is a kind of structural basis for having to get along, wanting to get along. And so we take great care to make sure the relationship is working, Jaishankar said hours after addressing the 78th UN General Assembly session. Jaishankar said that Russia has historically seen

India-Russia Chennai-Vladivostok Eastern Maritime Corridor talks gain pace

Both countries seek Swift operationalisation of trade route

India-Middle East-Europe Economic Corridor will benefit Russia: Putin

Russian President Vladimir Putin on Tuesday said he sees nothing in the India-Middle East-Europe Economic Corridor (IMEC) that can hinder Russia

Balancing the redlines: How G20 New Delhi Leaders' Declaration came about

The G7 grouping led by the US wanted stronger condemnation of Russia for its aggression against Ukraine

Oil goes past $90 a barrel after Saudi Arabia, Russia prolong cuts

The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a barrel in trading

G20 Summit: Russia aims to become 'reliable' supplier of energy resources

Russia will seek to confirm its status as a "reliable and guaranteed supplier" of energy resources and export products to the world at the G20 Summit, the foreign ministry here has said as it confirmed the attendance of foreign minister Sergey Lavrov in New Delhi for the key meeting. Lavrov will attend the meeting instead of President Vladimir Putin, the ministry said, indicating that the Russian foreign minister could also discuss the issue of the grain deal during his bilateral meetings on the sidelines of the G20 summit to be held on September 9 and 10. Since Russia's invasion of Ukraine in February last year, the US-led Western countries have imposed crippling sanctions on Moscow, including a price cap on Russian oil by G7-plus nations, in order to reduce its ability to finance the war on Ukraine. The West has also criticised Russia for violating the Black Sea grain deal with Kyiv which would prevent crucial grain exports from Ukraine from reaching the world markets. At the G20

India's Russian crude imports decline sharply in Aug to lowest in 7 months

Shipments of Russian oil to India dropped to 1.6 million barrels per day (bpd) in August from 2.1 million bpd in July, the steepest month-on-month drop

Prigozhin's death removes one problem, may create new ones for Putin

The United States is looking at a number of theories over what brought down the plane, including a surface-to-air missile hitting it, U.S. officials told Reuters

EAM Jaishankar, Lavrov exchange views on bilateral, international issues

External Affairs Minister (EAM) S Jaishankar, his Russian counterpart Sergey Lavrov on Wednesday exchanged views on bilateral, international issues.The two ministers met during the BRICS summit in Johannesburg, South Africa.The two exchanged views on a wide range of bilateral and international issues, interaction within the UN, G20 and BRICS, as well as discussed practical steps to further develop trade and economic cooperation, logistics and financial interaction, as per the Russian Foreign Ministry.EAM Jaishankar on Wednesday tweeted: "Pleased to meet FM Sergey Lavrov of Russia on the sidelines of the BRICS summit. A useful discussion on recent global developments."Lavrov congratulated Jaishankar on the successful landing of Chandrayaan-3 on the Moon. The Foreign Ministers agreed to remain in contact.Meanwhile, Russian President Vladimir Putin on Wednesday told a summit of the BRICS grouping that Moscow wants to put an end to the "war unleashed by the West".He said, "The desire of a

India mulls wheat imports from Russia at discount to calm prices: Reports

The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July