Page 24 - India Russia

India-Russia strategic partnership growing stronger: Russian Envoy Alipov

Russian Ambassador to India Denis Alipov said that the 'special Russia-India strategic partnership' has shown strength and is 'growing stronger as ever''

Russian arms for India not in German interests: Germany Defence Minister

Since the full-scale invasion of Ukraine began in early 2022, India has relied on Russia for its defence needs and has also become a significant customer of discounted Russian crude oil

Russia pushes India for help to avert its global financial isolation

Many countries in the so-called Global South including India have stayed mostly neutral over Russia's aggression against Ukraine. That balancing act was on display at a Group of Seven summit in Japan

Crack down on 'resale' of Russia oil: EU foreign policy chief Josep Borrell

India has emerged in the past year as a top buyer of Russian oil following the war

Russian investors eye Indian bourses to trade in US energy basket

Interest comes days before the launch of NYMEX WTI Crude Oil and Natural Gas (Henry Hub) derivatives contracts by NSE

S Jaishankar holds talks with Russian counterpart Lavrov on various issues

External Affairs Minister S Jaishankar on Thursday held wide-ranging talks with his Russian counterpart Sergey Lavrov on overall bilateral cooperation, the Ukraine conflict and regional as well as global issues of mutual interest. The talks took place at a beach resort in Benaulim on the sidelines of a meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organisation (SCO). The Russian foreign minister landed in Goa this morning to attend the SCO conclave, a day after Russia accused Ukraine of attacking the Kremlin with drones in an unsuccessful attempt to kill President Vladimir Putin. Jaishankar and Lavrov reviewed overall trajectory of bilateral engagement in the backdrop of the global geopolitical upheaval, people familiar with the matter said. There is no clarity yet on whether trade-related issues figured in the talks. India has been pressing Russia for urgently addressing the trade imbalance that has been in favour of Moscow. India's trade deficit with R

Tracking the economic indicators: Oil imports from Russia make a new record

US supplies were one the biggest casualties of Russian inroads into India's crude oil market

India, Russia explore using RuPay and Mir cards for easy payments

India and Russia will explore the possibility of accepting RuPay and Mir cards in each other's country for hassle-free payments amid sanctions imposed by the West on Moscow. In the recent high level Internal Governmental Commission meeting on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), it was discussed and agreed to explore the opportunity of allowing acceptance of these cards, sources said. The mutual acceptance of RuPay (India) and Mir cards (Russia) will help Indian and Russian citizens to make hassle-free payments in Indian rupees and Russian ruble in their respective countries, sources said. The meeting, co-chaired by External Affairs Minister S Jaishankar and Russia Deputy Prime Minister Denis Manturov, also agreed to explore the possibility of interaction of Unified Payments Interface (UPI) of National Payment Corporation of India and the Faster Payments System (FPS) of the Bank of Russia. Besides, it was also agreed to look at adopting t

How Russian oil is still powering Europe's cars with help from India

Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show

India invited to join regional group on Afghanistan: Russian FM Lavrov

"We want this Quintet to be constituted as something of a core for the format of neighbouring states," he said

BRICS draws membership bids from 19 countries before annual summit

The emerging-markets bloc of Brazil, Russia, India, China and South Africa will meet in Cape Town on June 2-3 to discuss its enlargement, Anil Sooklal, South Africa's ambassador to the group, said

India's unabated tryst with Russian crude oil is slowly coming to an end

Russian oil now trades above the G-7 price cap, leaving India searching for creative solutions to fill the breach

Russian oil cuts Opec's share of Indian market to 22-year low at 59%

OPEC members mainly from the Middle East and Africa, saw their share of India's oil market slide to 59% in the fiscal year to March 2023, from about 72% in 2021-22

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