Nirmala Sitharaman to buy crude oil from Russia
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Nirmala Sitharaman said that india has already started buying crude oil from Russia.Union finance minister says he will buy crude oil from russia at lower prices. india has made it clear that it is accepting the promise of pre-war crude oil prices amid rising global prices.
Nirmala Sitharaman said that india has already started buying crude oil from Russia. russia is trying to get closer to india as countries, including the united states, tighten their grip on Ukraine. After his visit to China, Russian Foreign minister Sergei Lavrov arrived in india and held talks with Foreign minister S Jayasankar.
russia lauded India's policy of rejecting the position of countries, including the united states, on the ukraine issue. russia has promised to pay up to $ 35 a barrel for crude oil. russia has also asked india to buy at least 1.5 million barrels of crude oil. Crude oil supplies from russia to europe and the united states have been cut off following the war against Ukraine. With this came the situation of crude oil stagnation in Russia. In this context, russia is moving to sell it, even to Asian countries that are not entirely opposed to it, given the rising cost of crude oil internationally.
india is the second-largest oil importer in Asia. While india now relies heavily on crude oil for its crude oil, russia reckons that selling at a lower price could help attract indian oil companies.
