PM Modi and the Russian President talk about the Russia-India Special and Privileged Strategic Partnership, bilateral settlement system using national currencies, agri trade, cooperation in medicines
With Russia, India has initiated "rupee trade mechanism" for trade in INR; with Iran, bilateral trade payments arrangement was adopted in 2018, says govt
Country-wise crude oil import data shows Russia gaining the biggest share of the crude pie in FY23
“With Europe maintaining sanctions on Russia, we expect the trade to divert from Russia to India,” says A Shakhtivel, President, FIEO.
In the past 100 days, India has emerged among the top 10 importers of Russian fossil fuels, with China replacing Germany as the biggest importer of Russian oil, shows a CREA report.
