Russia’s state-owned energy giant Rosneft has struck a massive deal with India’s private oil refiner Reliance Industries. This agreement, worth an eye-popping $13 billion annually, will see Rosneft supplying nearly 500,000 barrels of crude oil every single day to Reliance, making it the biggest oil deal ever between the two nations.

So, what’s in the deal?

Under this agreement, Rosneft will deliver 20-21 cargoes of crude oil every month, each carrying between 80,000 to 100,000 metric ...