According to a statement shared by the Embassy of Russia in India, Russian Deputy Prime Minister Alexander Novak said, “Russia’s oil and petroleum product exports to India have reached $1 billion, and there are clear opportunities to increase this figure.” Huh.”
see photosPump jacks are seen at the Ashalchinskoye oil field, owned by Russia’s oil producer Tatneft
It urged India to deepen its investment in the sanctions-hit country’s oil and gas sector, and is keen to expand the sales network of Russian companies in Asia’s 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 refrained from voting at the UN against long-time arms supplier Moscow.
According to a statement shared by the Embassy of Russia in India late Friday, Russian Deputy Prime Minister Alexander Novak said, “Russia’s oil and petroleum product exports to India have reached close to $1 billion, and there is a need to increase this figure.” There are clear opportunities.”
“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 Indian 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.
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