In the last few years, India, the world's third-largest energy consumer, has diversified the source of energy from 27 countries to 39 countries
A wide array of foreign companies pulled out of Russia or scaled down their activities in the country after Russia sent troops into Ukraine in late February.
To seriously cut Russian revenue, the cap must be lowered “quickly and progressively," said Lauri Myllyvirta, lead analyst at the Finland-based Centre for Research on Energy and Clean Air.
According to Vortexa, Russia now accounts for more than the combined oil bought from Iraq and Saudi Arabia -- India's mainstay oil suppliers for decades
Russia, which made up for just 0.2 per cent of all oil imported by India in the year to March 31, 2022, supplied 9,09,403 barrels per day (bpd) of crude oil to India in November
A joint G-7 coalition statement released Friday states that the group is 'prepared to review and adjust the maximum price as appropriate'
From less than 1% share of India's import basket before the Ukraine War in February 2022, Russia's share of India's imports rose to around 35% in February.
EU nations sought to push the cap across the finish line after Poland held out to get as low a figure as possible, diplomats said Thursday.
The latest offer, confirmed by 3 EU diplomats, comes ahead of a deadline to set the price for discounted oil by Monday, when a European embargo on seaborne...
Developing countries like India and China have been increasingly buying discounted Russian oil as global energy prices remain high and Western nations seek to...
India, which has not publicly condemned Moscow for its 'special military action' in Ukraine, has become Russia's No.2 oil buyer after China as Western buyers...
As per the announcement, the G7 countries, along with other allies and partners, plan to prohibit the provision of services that enable maritime transportation...
EAM Jaishankar said that oil prices are unreasonably high and so are the gas prices. A lot of traditional suppliers to Asia are diverting to Europe because...
India is among the countries buying discounted Russian oil after sanctions by the west and the country’s share of oil imports have significantly gone up in...
The bloc is bracing for a possible full Russian cutoff of natural gas supplies that could add a big chill to the upcoming winter, leaving nations like economic...
As US helps its European Allies in the Energy sector, there are growing concerns about the urgency of renewable energy.
The Sri Lankan government said talks were held with India for a fresh credit line and negotiations are underway to buy discounted Russian oil.
Sri Lanka’s Power and Energy Minister Kanchana Wijesekera insisted that the government was exploring options to buy oil from Russia.
Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely have...
The EU had already imposed five previous rounds of sanctions on Russia over its war. It has targeted more than 1,000 people individually, including Russian...
Hungary's government has insisted it will block any EU sanctions proposals that include Russian energy, calling it a 'red line' that opposes Hungary's...
White House also noted that India is importing only 1 or 2 per cent of their oil from Russia.
Russia has developed a system to engage in trade in national currencies with countries like India and efforts to move away from the dollar-based payment system...
Germany's imports of Russian gas have also reduced from around 55 per cent to 40 per cent.
Pakistan Prime Minister Imran Khan said India is a US ally but it's also buying Russian oil as India has always had an independent foreign policy.
