As the EU slapped 6th round of sanctions on Russia, almost 860,000 barrels a day of crude were loaded onto tankers at Russian terminals last week, before heading to destinations in Asia.
Windfall gains of Rs 84,400 crore-86,000 crore from higher crude prices could help the government bridge a shortfall that may occur in meeting its fiscal deficit target for 2022-23.
Japan, South Korea, Thailand and India will get the oil volumes they had sought, with some even getting extra supplies, according to refinery officials.
State processors are collectively working on finalizing and securing new six-month supply contracts for Russian crude to India, eager to take more of the heavily-discounted stocks.
Following an oil supply crunch and historic inflation, the easing of penalties may allow California-based energy corporation Chevron to negotiate resuming operations in Venezuela.
The EU plans to ban Russian oil over the next six months and refined fuels by the end of the year, to increase pressure on Vladimir Putin over his invasion of Ukraine.
White House Press Secretary Jen Psaki also reiterated US' desire that New Delhi does not purchase oil from Russia amid American sanctions on Moscow for invading Ukraine.
Such pacts are often short-lived and lack the deep liquidity provided primarily by the dollar. Moreover, India doesn't get much in return for this accommodation and has much to lose.
Russian oil has been flowing to Asia in greater volumes as buyers across Europe and the U.S. shun supplies, following the invasion of Ukraine. India and China have been the key buyers.
In May 1974, RSS chief Madhukar Dattatraya Deoras spoke at a lecture series in Pune about caste-based discrimination and social equality within the Hindu fold.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
While the IAF remains committed to the Tejas programme and has placed orders for 180 Tejas Mk1A, the force is eagerly waiting for the Tejas Mk 2 version.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
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