Page 4 - Russia

Oil-thirsty Asian nations seek Russian crude as Iran war strains supplies

Asian nations are increasingly competing for Russian crude oil as an energy crisis mounts amid the month-old war by the US and Israel against Iran, which has choked off roughly a fifth of the world's oil supply. Much of the oil from the mostly shut Strait of Hormuz was headed for Asia, hit hardest by recent energy shocks. Over the weekend, Iran-backed Houthi rebels entered the conflict, further threatening shipping. To shore up global crude oil supplies, the US has temporarily eased sanctions on Russian oil shipments already at sea - first for India, then for the rest of the world. Demand is rising in Asia while Russia is raking in billions of dollars. But experts say there is a limit to how much Moscow can boost its exports of crude oil, which is unrefined petroleum needed to make fuels like gasoline and diesel, and it is already exporting at a level close to its previous peak. In addition, Russia's 4-year-old full-scale invasion of Ukraine and recent drone attacks on its energy .

India, Russia review full range of bilateral ties at foreign office talks

Discussions covered a wide range of issues, including bilateral cooperation as well as regional and global developments of mutual interest, and reviewed the entire gamut of India-Russia relations

Zelenskyy urged to curtail Russia energy strikes, proposes truce

"If Russia is ready to stop striking Ukrainian energy, we won't be returning the strikes against their energy," Zelenskyy said

LNG supply to urea units rises to 75-80%; output falls 27% in March

The government has also secured arrangements for 2.8 million tonnes of urea from Russia through the Cape of Good Hope route

India, Russia review strategic partnership amid West Asia crisis

India and Russia on Monday explored ways to further expand their already close strategic partnership against the backdrop of the West Asia crisis and its economic fallout. The escalating conflict in West Asia is learnt to have figured prominently in Russian Deputy Foreign Minister Andrey Rudenko's meetings in New Delhi including with External Affairs Minister S Jaishankar. "Good to meet Deputy Foreign Minister Andrey Rudenko of Russia. Spoke about further advancement of our wide-ranging cooperation. As well as regional and global developments," Jaishankar said on social media. People familiar with the meeting said the crisis in West Asia figured in the discussion. Rudenko also co-chaired India-Russia Foreign Office Consultations along with Foreign Secretary Vikram Misri. "Both sides reviewed the full spectrum of Special and Privileged Strategic Partnership and shared perspectives on bilateral, regional and global issues of mutual interest," External Affairs Ministry spokesperson .

Russia expels UK diplomat over espionage charges, orders exit in two weeks

Russia on Monday expelled a British diplomat on charges of espionage and ordered him to leave the country within two weeks, the Federal Security Service (FSB) said. "A decision has been made to revoke Janse Van Rensburg's accreditation, and he has been ordered to leave Russia within two weeks," the FSB, the main successor to the Soviet-era KGB, said. On Monday, the British Charge d'Affaires in Russia, Danae Dholakia was summoned to the Russian Ministry of Foreign Affairs and served a strong protest following revelations that one of the diplomatic staff at the British Embassy had "knowingly provided false information" about himself when obtaining entry into the country, Russia's Ministry of Foreign Affairs said. During its counterintelligence activities, the FSB identified an undeclared UK intelligence presence under the guise of the British Embassy in Moscow, it said. "Due to the violation of Russian legislation and in accordance with Article 9 of the Vienna Convention on Diplomat

Ukraine drone strike hits Russia's Ust-Luga port, fire under control

The recent attacks have caused severe oil supply disruption for Russia, the world's second-largest oil exporter, and have come just as oil prices exceeded $100 a barrel due to the Iran war

Russia took images of US bases in Gulf before Iranian attack: Zelenskyy

According to Zelenskyy, Russian satellites imaged the base on March 24 and 25, suggesting they were preparing for the attack

West Asia conflict pushes India to rekindle old friendship with Russia

Delhi and Moscow are deepening their energy cooperation, with both sides agreeing to prepare for Russia to resume ​direct sales of LNG for the first time since the start of the Ukraine war

Gulf conflict may have global consequences like Covid, says Putin

Russian President Vladimir Putin on Thursday said no one, including the perpetrators of the Gulf conflict, can foresee its grave consequences for the world, comparable only to the Covid pandemic. Addressing the delegates of the congress of the powerful Union of Industrialists and Entrepreneurs (RSPP), the Russian leader said the escalation of the conflict incited by the joint US-Israeli attack on Iran has jeopardised a wide range of industries, and there's no telling what further consequences may follow. "The armed conflict in the Middle East is increasingly impacting the current situation and causing significant disruption to international logistics, manufacturing, and supply chains," he said. Starting February 28, the US and Israel launched joint strikes against Iran, which in turn retaliated, spreading the war to the entire Gulf region. The Strait of Hormuz is a strategically important choke point for the world's energy supplies. The strait, a narrow shipping lane that connects

RIL denies reports of company buying Iranian crude supplies

Earlier this week, a Reuters report said Reliance had purchased over 5 million barrels of Iranian crude from the National Iranian Oil Company, though delivery timelines remained unclear

Indian refiners seek alternatives to US dollar for Russian oil payments

Transactions are being carried out by depositing Indian rupees into special overseas bank accounts held by Russian sellers which are then being converted into UAE's dirham or the Chinese yuan

Lavrov, Iran FM slam 'unacceptable' US-Israeli strikes on nuclear sites

Russian Foreign Minister Sergey Lavrov on Monday spoke to his Iranian counterpart Abbas Araghchi.Russian Ministry of Foreign Affairs said in a post on X, "On March 23, FMs Sergey Lavrov & Seyed Abbas Araghchi spoke over the phone. The Ministers discussed the deterioration in the Persian Gulf caused by US-Israeli aggression. They also voiced concern over the conflict's dangerous expansion into the Caspian region."Sergey Lavrov stressed the categorical unacceptability of the US-Israeli strikes on Iran's nuclear infrastructure, including the Bushehr Nuclear Power Plant, which create unacceptable risks for the safety of Russian personnel and could lead to catastrophic environmental consequences for all countries of the region without exception, an official statement said.Both Sides also expressed concern over the dangerous expansion of the conflict provoked by Washington and Tel Aviv into the Caspian region. The Russian Side emphasized the need for an immediate cessation of ...

Jaishankar calls for removal of non-tariff barriers in Russia trade

India and Russia need to address issues such as non-tariff barriers and regulatory impediments to increase the two-way annual trade to USD 100 billion by 2030, External Affairs Minister S Jaishankar said on Monday while reaffirming New Delhi's steadfast commitment to strengthening the long-standing partnership with Moscow. "In today's evolving geo-political dynamics, our engagement continues to deepen," he said in a virtual address at a conference titled "India and Russia: Towards a new bilateral agenda". Russian Foreign Minister Sergey Lavrov lauded India's "independent foreign policy" and said that Russia looks forward to welcoming Prime Minister Narendra Modi for a visit this year. In his remarks, Jaishankar said the evolving multipolar order requires greater cooperation between India and Russia, including through BRICS, the Shanghai Cooperation Organisation (SCO), G20 and the UN. India is looking forward to closely working with Russia to address shared challenges in a "balanced

Ukrainian drone strike hits Russia's Primorsk oil port, damages fuel tank

Emergency services are working to extinguish the blaze at the fuel storage tank at Primorsk, and personnel have been evacuated

At least 4 killed as Russia, Ukraine trade attacks ahead of US talks

Russia and Ukraine traded attacks that killed at least four people Saturday, officials said, ahead of US-Ukraine talks on ways to end Russia's invasion of its neighbour. A man and a woman were killed and six people wounded, including two children, when a Russian drone hit a house in the Ukrainian city of Zaporizhzhia, regional head Ivan Fedorov said. Russian strikes also knocked out power across much of the northern Ukrainian region of Chernihiv, according to local officials. In Russia, two women were killed and another wounded by Ukrainian shelling of the Belgorod border region, Gov. Vyacheslav Gladkov said. The attacks came ahead of US-Ukraine talks in Miami that US Special Envoy Steve Witkoff said on X were "constructive." He said the meetings, which included US President Donald Trump's son-in-law Jared Kushner, were "part of ongoing mediation efforts, with discussions focused on narrowing and resolving remaining items to move closer to a comprehensive peace agreement." Ukrainia

The Gulf war is now a global crisis: Russia, China emerge as winners

Israel has used its deep relationship with the United States (US) to emerge as the strongest and most advanced military power in the West Asia/Gulf region

Explained: Why Russian oil is returning to India

As tensions escalate in West Asia and the Strait of Hormuz faces disruptions, global oil flows are shifting fast. India, the world’s third-largest oil consumer,

India in talks with Russia, Belarus, Morocco for fertiliser imports: Report

The Middle East accounts for roughly half of India's DAP and urea imports, with Saudi Arabia the largest DAP supplier and Oman the biggest urea supplier

RBI working to provide avenues to Russian trade counterparts for rupee use

The Reserve Bank of India (RBI) is working on providing more avenues for the usage of Indian rupee (INR) accumulated by the Russian trade counterparts, a senior official said on Thursday. The Central Bank is looking at avenues to either settle Indian rupees of Russian trade counterparts lying in India for imports or for making capital investments in India, he added. "We are working on providing various avenues for using the INR, which is accumulated here by the Russian counterparts, to use it either for settling their imports or making capital investments in India, so on and so forth," N Senthil Kumar, chief general manager in RBI's Foreign Exchange Department, said at the Russia-India forum in Mumbai. For the past few years, both countries have focused on local currencies to settle bilateral trade and reduce reliance on the US Dollar. Last year, the RBI was allowed to invest surplus balances in government securities. Kumar noted an "inertia" among stakeholders in transacting in lo