December 11, 2022
1 min read

Russia offers India help in overcoming oil price cap

While India has many times called for peace negotiations over Ukraine, it has stood firm by its stand that it will keep buying oil from wherever it gets a good deal….reports Asian Lite News

Russia has offered India help in overcoming oil price cap being imposed by western nations amid the war in Ukraine.

“In order not to depend on the ban on insurance services and tanker chartering in the European Union and Britain, the Deputy Prime Minister of Russia Alexander Novak has offered India cooperation on leasing and building large-capacity ships,” the Russian embassy in New Delhi said.

Alexander Novak held a meeting with Indian ambassador to Moscow Pavan Kapoor on Friday, it said.

“In the first eight months of 2022, Russian oil exports to India grew to 16.35 million tonnes; in the summer, Russia ranked second in terms of oil shipments to India,” the statement said.

Western nations have been critical of India’s move to keep buying oil from Russia amid the war in Ukraine. While India has many times called for peace negotiations over Ukraine, it has stood firm by its stand that it will keep buying oil from wherever it gets a good deal.

The government does not ask Indian companies to buy oil from Russia but it is a sensible policy to get the best deal in the interest of the Indian people, External Affairs Minister S Jaishankar told parliament on December 7.

“We do not ask our companies to buy Russian oil. We ask our companies to buy oil, what is the best option that they can get. Now it depends on what the market throws up… Again, please do understand, it’s not just that we buy oil from one country. We buy oil from multiple sources, but it is a sensible policy to go where we get the best deal in the interests of the Indian people and that is exactly what we are trying to do,” Jaishankar had said.

ALSO READ: India-Russia Summit not to take place this year

Previous Story

Salesforce brace for more job cuts

Next Story

India deploying new drone units in Eastern Ladakh, Sikkim

Latest from -Top News

Multi-alignment, upgraded

With US ties strained and China tense, New Delhi taps Europe’s harder edge for co-development, clean tech and strategic autonomy, writes Manoj Menon India is recalibrating its great-power hedging as frictions with

India-EU Trade Deal Breakthrough Soon?

Negotiators report increased momentum in discussions, which have been given a boost from US President Donald Trump’s tariff offensive…reports Asian Lite News India and the European Union aim to finalise a trade

Europe Seeks Peace in Gaza

European countries condemn Israeli interception of Gaza-bound flotilla, demand safety of citizens…reports Asian Lite News Israel’s interception of an international flotilla carrying humanitarian aid to Gaza has sparked condemnation across Europe, with

GAZA: Egypt to Host Peace Talks

Egypt hopes the discussions will help “end the war and the suffering of the brotherly Palestinian people, which has continued for two consecutive years…reports Asian Lite News Egypt will host Israeli and

‘My Injuries Made Me’

During his four-year battle with injury, the incumbent fast bowling spearhead made occasional appearances but couldn’t bear the workload and demands of red-ball cricket….reports Asian Lite News England tearaway Jofra Archer believes
Go toTop

Don't Miss

EU Parliament President Sassoli dies at 65

Sassoli was elected president of the European Parliament in 2019

EU halts Georgia’s accession to the bloc

A total of 30 million euros ($32.5 million) in financial