Sanctions Force Russia To Offer More Oil To India

Russian Deputy Prime Minister Alexander Novak; pic courtesy: Facebook

New Delhi: Perturbed by the sanctions imposed by the western countries and suspended fuel exports to the United States, Russia is eager to increase its petroleum product exports to India and its investments in the Russian oil sector, Russian Deputy Prime Minister Alexander Novak said this to Petroleum Minister Hardeep Puri on Friday.

According to a statement from the Russian government, Puri discussed with Novak, also the former Energy Minister, exploring possibilities of strengthening the India-Russia strategic collaboration in the energy sector.

“Russia’s oil and petroleum product exports to India have approached $1 billion, and there are clear opportunities to increase this figure,” according to a statement issued in Moscow. It discussed “current and potential joint projects in the fuel and energy industry and noted that current projects continue to be steadily implemented.”

“We are interested in further attracting Indian investment to the Russian oil and gas sector and expanding Russian companies’ sales networks in India,” Novak was quoted as saying via the statement.

ALSO READ: End Of Conflict On Cards? Putin Sees Some ‘Positive Shifts’ In Russia-Ukraine Talks