Russia

India Buys More Russian Oil Despite US Threats

India is the world’s third-largest consumer of energy, relying on imports for nearly 80% of its crude oil requirements. As Russia is being sanctioned from all sides owing to the situation in Ukraine, India has stepped up to buy Russian oil at a huge discount despite threats from the US.

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Russia Avoids Default After J P Morgan Process Funds

Russian Finance Minister Anton Siluanov underlined this week that the country will settle the bill in rubles should the dollar transfer fail. But this has led to concerns as for the time being, Russia has managed to avoid default after J P Morgan processed the funds.

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