By the end of 2022, Russia for the first time entered the top five largest trading partners of India – the volume of trade between them reached $38.4 billion.
Russia’s largest state-owned oil company Rosneft and the Indian Oil Corporation have entered into an agreement to significantly increase oil supplies to India and diversify its grades. This was announced by the Russian company on Wednesday, March 29.
It is indicated that the signatures under the agreement were placed by the chief executive officer of Rosneft Igor Sechin and the chairman of Indian Oil Corporation Ltd. Srikanth Madhav Vaidya. The signing ceremony took place in the presence of India’s Minister of Petroleum and Natural Gas, Hardeep S. Puri.
Rosneft also discussed that the issues of expanding comprehensive cooperation in the energy industry between Russian and Indian companies along the entire technological chain, as well as the possibility of mutual settlements in national currencies, were discussed.
“Particular attention was paid to the implementation of joint projects between Rosneft and Indian partners, including Sakhalin-1, Taas-Yuryakh and Vankorneft,” the report said.
It is also argued that by 2022, Russia for the first time will enter the top five largest trading partners of India – the volume of trade between the countries will reach $38.4 billion.
The other day, Russia announced a tenfold increase in oil supplies to India. The aggressor country redirects most of its energy resources to the markets of “friendly countries”.
Media earlier reported that India has become a leading consumer of Russian Urals oil. So, in January, almost 70% of these oil shipments were sent to India.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.