At an event in New Delhi, US treasury official Anna Morris says Washington has not asked India to reduce its purchase of Russian crude. India was top buyer of Russian oil in 2023.
India was the top buyer of Russian oil last year after other groups retreated from purchases following Western sanctions on Moscow for its invasion on Ukraine in February 2022.
The United States on 23 Feb imposed sanctions to mark the second anniversary of Russia’s invasion of Ukraine and retaliate for the death of opposition leader Alexei Navalny.
Move could pay dividends to Indian refiners, who have capacity to refine heavy crude from Venezuela. India consistently bought crude from Latin American country before sanctions.
Petrol and diesel rates have not been lowered in India since May 2022 even though international oil prices are down 25% from June 2022 peak. Analysts believe ‘politics is at play’.
By Nidhi Verma NEW DELHI (Reuters) - India's July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2
It marks a major departure from well-established oil majors such as BP & Shell and top trading houses like Vitol & Glencore that handled Russian crude & oil products for decades.
Fatih Birol said that, since India has abundant renewable energy capacity, the country should not miss the opportunity to become a superpower in the green hydrogen business.
In the first eight months of the current fiscal year, New Delhi’s net tax intake didn’t even hit the halfway mark of what it expects to collect by March 31.
As Visakhapatnam readies a mega airport, the Andhra Pradesh government has revived its shelved Dagadarthi project, aiming to boost cargo and connectivity on the south coast.
Speaking at annual press conference, Army chief reiterated that India does not recognise 1963 Sino-Pakistan border pact under which Pakistan illegally ceded Shaksgam Valley to China.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
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