Nov 09, 2024, at 07:44 pm
New Delhi/IBNS: Union Minister Hardeep Singh Puri emphasized that India’s decision to purchase oil from Russia has played a crucial role in preventing global oil prices from escalating even further.
Sep 27, 2024, at 10:43 pm
New Delhi: India will not purchase liquefied natural gas (LNG) from Russia's Arctic LNG 2 project, which is under Western sanctions, Reuters reported, citing Oil Secretary Pankaj Jain, who confirmed the development on Friday.
Russia rises gold purchases by 601% to evade sanctions
Sep 07, 2024, at 10:46 pm
Moscow/IBNS: As Western sanctions continue to tighten around Russia, Moscow on Friday (Sept 6) announced that the country will increase its daily gold purchases to 8.2 billion rubles, which represents a 601 percent rise from previous occasions, to bypass financial restrictions and maintain trade with its partners.
India sells 44,800 tons of unprocessed aluminum to Russian companies
Jul 03, 2024, at 04:06 pm
The trade ties between India and Russia have strengthened with volume touching $65.7 billion in the financial year ending in March 2024, media reports said.
Reliance Industries inks one-year deal with Russia's Rosneft for oil purchase in roubles: Report
May 29, 2024, at 02:44 am
Mumbai: Mukesh Ambani-led Reliance Industries, which operates the world's largest refining plant, has signed a one-year agreement with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles, Reuters reported.
India tops among leading real estate buyers in Dubai, says report
Jan 24, 2024, at 05:35 am
Indian property investors have surpassed Russians to claim the top position as the leading buyers of real estate in Dubai in 2023, a report released by a real estate company has revealed.
India's imports from Russia soar 67% to $30.42 billion in April-Sept
Oct 14, 2023, at 07:02 am
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.
Russian companies investing rupee surplus in Indian govt bonds: Report
May 17, 2023, at 06:27 am
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.
India intensifies efforts to reduce trade deficit with Russia; focuses on exports
May 12, 2023, at 02:51 am
New Delhi: The Union Commerce Ministry has intervened to address the increasing trade deficit between India and Russia, media reports said.
Russia remains top crude oil supplier to India in March with 1.64 million bpd
Apr 08, 2023, at 01:58 am
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.
India, Russia trade surpassing records: Russian trade official
Apr 06, 2023, at 06:26 am
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.
Russia's Rosneft and Indian Oil Corp ink deal to boost oil supply and diversify grades
Mar 30, 2023, at 05:42 am
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.
India's Feb crude oil imports from Russia hit record high
Mar 05, 2023, at 10:54 pm
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.
India's imports from Russia jump 5 times amid Russia-Ukraine conflict
Feb 16, 2023, at 06:15 pm
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.
Dec 17, 2022, at 07:28 am
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.
Russia replaces Iraq as the largest oil supplier to India in Nov: Report
Dec 15, 2022, at 05:58 am
New Delhi: Russia for the first time in November replaced Iraq as the top exporter of crude oil to India, media reports said.
Russian oil: India to examine West's price cap proposal, says report
Oct 20, 2022, at 07:27 am
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 fossil fuel export revenue tops its Ukraine war cost
Sep 07, 2022, at 06:45 pm
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 to accept rubles and yuan from China for gas imports
Sep 07, 2022, at 05:56 pm
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.
Not dollar dependent, Indian importers buy discounted Russian coal with Asian currencies
Aug 11, 2022, at 08:44 pm
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.
Siemens energy plans Russia exit by 3rd qtr of 2022
Aug 10, 2022, at 07:16 am
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.
Cheap Russian crude likely to pose tough competition to Saudi Arabia in India
Aug 06, 2022, at 06:36 am
New Delhi: Russia and Saudi Arabia could be soon locked in a battle over securing a bigger share of India's crude import market, with Moscow offering a cheaper alternative to one of the world's biggest importers.
India in better position than most other countries: Sanjiv Goenka on economic situation
Jul 05, 2022, at 12:59 am
Kolkata/IBNS: Founder and Chairperson of RPSG Group Sanjiv Goenka said India is in a better place than most nations during the current conflict between Russia and Ukraine.
Jun 14, 2022, at 04:56 pm
While the European Union (EU) continues to be the biggest consumer of Russian fossil fuels amid the Ukraine war, India upped its imports of Russian crude from 1 percent before the conflict began to 18 percent in May, media reported.
India inks contract with Russia to attain supply of radio equipments for 24 airports
Jun 11, 2022, at 06:50 pm
New Delhi/UNI: Russia’s Scientific and Production Corporation 'Radio Technical Systems' (NPO “RTS”) signed a large-scale contract with the Airports Authority of India (AAI) for the supply of radio equipment.
Is Turkey's Rubella virus claim to reject Indian wheat a ploy to control global wheat supply?
Jun 11, 2022, at 05:25 am
Turkey's attempt to malign India's reputation as a wheat supplier fell flat after Israel purchased a 55,000-ton consignment it rejected citing phytosanitary concerns. The grounds for rejection were not only false but apparently cropped from Turkey's covert motive to take control of global wheat supplies amid a soaring demand and a protracted Ukraine-Russia war, according to experts.
Ukraine War: Starbucks announces permanent exit from Russia after 15 yrs
May 26, 2022, at 12:17 am
Starbucks has announced its exit from Russia two months after it stopped doing business in the country in the wake of Russia's invasion of Ukraine.
Tata Steel to stop doing business with Russia
Apr 21, 2022, at 04:36 am
Tata Steel is going to stop doing business with Russia, the company said Wednesday, becoming the latest company to sever business ties with Russia after it attacked Ukraine, Reuters reported.
Russia increases export quota of fertilizer producers, India to benefit
Apr 20, 2022, at 10:49 pm
Russia has increased the export quotas for Russian producers of mineral fertilizer by almost 700,000 tons and that of nitrogen fertilizers was increased by 231000 tons, media reports said.
Ukraine crisis: Infosys to move business out of Russia
Apr 14, 2022, at 04:00 am
Bengaluru/IBNS: Infosys Ltd on Wednesday informed that the company is moving its business out of Russia and is looking for alternate options against the backdrop of the ongoing Ukraine conflict.