India’s Prime Minister Narendra Modi said he is keen to boost ties with Russia, even as the country has become an international pariah following its invasion of Ukraine.
— specifically major economies such as India and China.
Until now, India, which has upped its purchases of Russian oil following the Kremlin's invasion of Ukraine, has refused to be held on the issue.consider the proposals"very carefully,""No, there's no conflict. I have a moral duty to my consumer. Do I as a democratically elected government want a situation where the petrol pump runs dry?," Puri told CNBC's Hadley Gamble at Gastech 2022 in Milan, Italy.
As of the end of March, Russia accounted for just 0.2% of India's oil imports, according to Puri, with the vast majority of the country's oil consumption — 5 million barrels per day — coming from Iraq, Saudi Arabia, Kuwait and the United Arab Emirates. Still, Modi in his speech Wednesday heralded the growing economic links between India and Russia. Specifically, he praised the, which saw India extend a $1 billion line of credit to the resource-rich region for developments in energy, diamonds and pharmaceuticals.
"This policy has become a major pillar of the special and privileged strategic partnership between India and Russia," he said.
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