The external affairs minister also said US knows India's position on Russian oil imports and has 'moved on', adding that the country has been 'open and honest about its interests.'
The ex-PM, who blames US for 'regime change conspiracy' in Pakistan, commended the Indian foreign minister for asking why the west wasn't questioning Europe on Russian oil imports.
Unlike EU’s approach of phased ban on 90% of Russian oil by end of year, a price cap would mean allowing countries to continue to import Russian oil but limiting the price.
While state-run refiners have recorded higher-than-usual margins in 2021-22, the margins are more for private players as they are the biggest beneficiaries of cheap Russian crude.
Basrah Medium & Heavy crude, Iraq's main exported grades, face a threat in international markets as major buyers, India & China prefer discounted Russian crude oil after Ukraine invasion.
The price of West Texas Intermediate crude has fallen to just over $105 from more than $122 earlier this month — raising hopes that pressures may ease at the gas pump.
Data collected by Centre for Research on Energy & Clean Air shows while Russia has become India’s '2nd biggest' oil source, China & Germany are its primary importers of fossil fuels.
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.
External Affairs Minister S. Jaishankar came down heavily on Europe while speaking at the GlobSec 2022 Bratislava Forum Friday. World can no longer be 'Euro-centric', he said.
EU leaders agreed to pursue a partial embargo on Russian crude oil shipped on sea, potentially costing Putin up to $10 billion a year in lost export revenue.
For all their colonial underpinnings, postcards from Hyderabad also inadvertently preserve a trace of local memory: a glimpse of a street, a face, a forgotten name.
Indian toymakers are now exploring new markets, but they want govt to negotiate a trade deal with US soon, introduce incentives and subsidies to make the industry more competitive.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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