During the extensive interview on Thursday at Bharat Mandapam, New Delhi, PM Modi emphasised how he has often faced inquiries regarding India's choice to buy crude oil from Russia following President Vladimir Putin's declaration of full-scale war against Ukraine.
Pakistan: If the proposal is materialised, it will be a landmark development given that Pakistan imports oil from Gulf countries and in past Saudi Arabia and UAE supplied Pakistan oil on deferred payment.
Russia has not been a major source of fossil fuel for India but the imports of discounted Russian crude oil have seen a massive increase in the last few months, notwithstanding rising disquiet in many Western capitals.
India on Wednesday said its ties with Iran stand on their own and are not influenced by any third country, an assertion which came in the wake of US sanctions on import of Iranian oil. The comments came by Minister of State for External Affairs V Muraleedharan in the Lok Sabha
Referring to the trade disputes between the two countries, Pompeo expressed confidence that it can be resolved with Trump being at helm of affairs in the US.
The US is seeking to ramp up pressure on Iran to counter what the White House perceives to be a potential threat. Last month, the US designated Iran's Revolutionary Guard a foreign terrorist organisation, the first time the designation has been applied to a government entity.
The US has slapped sweeping sanctions on PDVSA with a view to curb Venezuela's crude exports and put pressure on socialist President Maduro to step down.
The US is trying to cut off all oil imports from Iran to zero by November 4 following Trump's decision in May to pull out of the 2015 multilateral deal that eased global sanctions in exchange for curbs on Iran's suspected nuclear programmes and malign activities.
Watch: Oil from Iran is illegally smuggled into Pakistan
Top industry sources said Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have contracted 1.25 million tonnes of Iranian oil for import in November.
The US has told India and other countries to cut oil imports from Iran to "zero" by November 4 or face sanctions, making it clear that there would be no waivers to anyone.
Making a statement on methanol in Lok Sabha, Gadkari said that the final roadmap for 'Methanol Economy' being worked out by NITI Aaayog was targeting an annual reduction of $100 billion by 2030 in crude imports.
The arrival of the first shipment of crude oil from US signals India's shift from dependence on supplying nations like Iraq and Saudi Arabia.
Bengaluru: India's import dependence on oil is likely to touch 90 percent by 2020 due to widening supply-demand gap on growing appetite for the fossil fuel, a joint study said on Friday.If the trend of
Washington: India and other major Iranian oil importing countries have got six months relief from reducing their import after the Islamic Republic agreed to curb parts of its disputed nuclear programme under a landmark deal.
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