Citing the reason behind the abrupt jump of Russia, the Commerce Ministry said the import of crude oil rose significantly in the current financial year.
EAM Jaishankar said that India is at a crossroads, “poised between the vibrant plurality of its democracy since independence in 1947 and a turn toward illiberalism” under Modi, and said Modi’s India seems to brim with confidence.
Novak stressed that Russia is responsibly fulfilling its contractual obligations for the supply of energy resources, diversifying energy exports to the countries in the east and south amid the energy crisis.
The ED said Ashish Malik was arrested by the EOW in May for "duping more than 1,000 people on the pretext of making an investment in a Russian oil company named Rosneft.
Pak PM praises India: Addressing a rally in Lahore, Imran Khan played a video of India's Foreign Minister S Jaishankar from Bratislava Forum held in Slovakia, praising Jaishankar for an apt response to the US' criticism of India going for Russian oil.
Last month, Russia overtook Saudi Arabia to become India's second-biggest supplier of oil behind Iraq as refiners snapped up Russian crude available at a deep discount following the war in Ukraine. Indian refiners bought about 25 million barrels of Russian oil in May.
European Union headquarters says Russian crude oil will be phased out over six months, and other refined petroleum products over eight months.
Ministry of External Affairs (MEA) Spokesperson Arindam Bagchi said many countries have taken policy decisions with a similar perspective and procurement of oil from Russia is not an India-related issue.
The European Union had already imposed five previous rounds of sanctions on Russia over its war.
Leaders from the G-7 countries met online Sunday and announced their commitment to ban or phase out Russian oil imports in their latest effort to pressure Moscow into ending its aggression on Ukraine.
The announcement followed an agreement between G-7 countries to further 'ratchet up' costs on Russia by collectively taking further measures.
This comes amid reports of deepening China-Russia ties in the aftermath of the Russia-Ukraine war and the widening rift between Beijing and the West.
US said that energy imports from Russia are not banned or part of sanctions, therefore, New Delhi is not violating US sanctions.
The U.S. will be acting alone, but in close consultation with European allies, who are more dependent on Russian energy supplies.
Moscow has been supplying the European nations with roughly 40 percent of their gas needs, said Russia's deputy Prime Minister Aleksandr Novak.
Baghdad, Jul 1: Iraq has awarded Russian oil giant Bashneft rights to explore for oil in the south of the country after nearly one month of negotiations, a senior Baghdad official said on Sunday, bringing
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