new Delhi: Russia Urged India to deepen its investment in the oil and gas sector of the sanctions-hit country, and is keen to expand the sales network of Russian companies Asiahas the third largest economy.
Russia’s economy is facing its deepest crisis since the 1991 collapse of the Soviet Union, as the West imposed severe sanctions on Moscow’s invasion of Ukraine.
Some Western allies have encouraged India to condemn Russia’s actions in Ukraine, as New Delhi has long refrained from voting against arms supplier Moscow. United Nations,
“Russia’s oil and petroleum product exports to India have reached $1 billion, and there are clear opportunities to increase this figure,” the Russian Deputy Prime Minister said. Alexander NowakiAccording to a statement shared by the Embassy of Russia in India late Friday night.
“We are interested in further attracting Indian investments in the Russian oil and gas sector and expanding the sales network of Russian companies in India,” Novak told Union Petroleum and Natural Gas Minister Hardeep Singh Puri.
The United States this week imposed sanctions on Russian oil imports and Britain said it would phase them out by the end of the year, a decision expected to further disrupt the global energy market, where Russia is the second largest exporter of crude. .
Indian state-run companies hold stakes in Russian oil and gas fields, while Russian entities, including Rosneft, have a majority stake in Indian refiner Naira Energy. Some Indian companies also buy Russian oil.
Nowak said Russia expects the two countries to continue cooperation on civil nuclear energy, including the construction of new units at the nuclear power plant in the south Indian city of Kudankulam.
Russia’s economy is facing its deepest crisis since the 1991 collapse of the Soviet Union, as the West imposed severe sanctions on Moscow’s invasion of Ukraine.
Some Western allies have encouraged India to condemn Russia’s actions in Ukraine, as New Delhi has long refrained from voting against arms supplier Moscow. United Nations,
“Russia’s oil and petroleum product exports to India have reached $1 billion, and there are clear opportunities to increase this figure,” the Russian Deputy Prime Minister said. Alexander NowakiAccording to a statement shared by the Embassy of Russia in India late Friday night.
“We are interested in further attracting Indian investments in the Russian oil and gas sector and expanding the sales network of Russian companies in India,” Novak told Union Petroleum and Natural Gas Minister Hardeep Singh Puri.
The United States this week imposed sanctions on Russian oil imports and Britain said it would phase them out by the end of the year, a decision expected to further disrupt the global energy market, where Russia is the second largest exporter of crude. .
Indian state-run companies hold stakes in Russian oil and gas fields, while Russian entities, including Rosneft, have a majority stake in Indian refiner Naira Energy. Some Indian companies also buy Russian oil.
Nowak said Russia expects the two countries to continue cooperation on civil nuclear energy, including the construction of new units at the nuclear power plant in the south Indian city of Kudankulam.