In today’s world, where energy is essential for every economy, India has taken a bold step by partnering with Russia to secure its energy needs. While the Western countries have been putting heavy sanctions on Russia, India has looked past this to get what it needs most—energy at affordable prices.
Indian banks are showing caution in their dealings with Russian clients due to concerns about possible US sanctions. Denis Alipov, Russia’s ambassador to India, recently explained that Indian banks, particularly those connected to the US, are worried about facing penalties if they continue trading with Russian businesses. Washington has increased
Afghanistan’s acting Industry and Trade Minister Nooruddin Azizi told Reuters that Russia and Afghanistan plan to build a logistics center for oil transit to South Asia, involving Kazakhstan and Turkmenistan, in its northwestern Herat province. Because of tensions with the West, it may be judged strategically unreliable to continue maritime
The new U.S. sanctions imposed on Russia in reaction to the passing of opposition leader and anticorruption crusader Alexey Navalny are threatening India’s oil supply from Russia. According to industry sources in India who spoke to Reuters, Indian refiners are worried that the most recent sanctions imposed by the United
The Finance Committee of the Iraqi Parliament stated that they are calling to ditch the US dollar for oil trade. To thwart US sanctions on the Iraqi banking system, the Finance Committee of the Iraqi parliament started on January 31st, urging the sale of oil in currencies other than the
