New Delhi: India's imports from Russia in the April-September period of this fiscal year surged by approximately 67 percent to USD 30.42 billion.
Mumbai: According to the Indian Banks' Association (IBA), Russian banks and companies with trade surpluses from Indian lenders are using the rupee funds to invest in domestic government debt, Reuters reported.
New Delhi: The Union Commerce Ministry has intervened to address the increasing trade deficit between India and Russia, media reports said.
Russia supplied 1.64 million barrel per day (bpd) of crude oil to India, surpassing traditional suppliers such as Saudi Arabia and Iraq, Moneycontrol reported.
New Delhi/UNI: President of the Russian Chamber of Commerce and Industry Sergey Katyrin said today that trade between the two nations is "breaking records". At the end of 2022, bilateral trade reached a record high of $35.3 billion, which is 2.5 times more than in 2021, he noted.
Moscow/IBNS: Rosneft, the Russian energy company, revealed a new agreement Wednesday to increase its oil exports to India, in an effort to find alternative markets due to the strained relations with Western countries over the Ukraine conflict.
New Delhi/IBNS: India's crude oil shipments from Russia in February reached an unprecedented 1.6 million barrels per day, surpassing the combined imports from traditional suppliers Iraq and Saudi Arabia.
New Delhi: India’s imports from Russia multiplied nearly five times to $ 37.31 billion in the April-January period in FY23 owing to an increase in crude oil import from that country, according to the commerce ministry data.
New Delhi/IBNS: In a telephone conversation with Russian President Vladimir Putin on Friday, Prime Minister Narendra Modi reiterated his call for dialogue and diplomacy as the only way forward to resolve the ongoing conflict in Ukraine.
New Delhi: Russia for the first time in November replaced Iraq as the top exporter of crude oil to India, media reports said.
India has said it would examine the proposal by the United States and the European Union (EU) to put a price cap on Russian oil, Reuters reported.
Russia's earnings from oil gas and coal exports in the last six months have covered its expenditure on the Ukraine invasion, according to an analysis from Helsinki-based nonprofit think tank Centre for Research on Energy and Clean Air, reported ET.
Russia's energy giant Gazprom said Tuesday that China will start paying for Russian gas in rubles and yuan instead of US dollars, AFP reported.
New Delhi: Amid skyrocketting fuel prices and turbulent global economy triggered by US sanctions on Russia, India is leaning towards discounted Russian coal, which also allows the liberty to pay in currencies other than the US dollars.
Moscow: Siemens Energy AG said Monday it began winding down its business in Russia in the third quarter of 2022 and expected to leave the local market in this fiscal year.