Best offer from Russia to India..!?

Sowmiya Sriram
Best offer from russia to India..!?

One of the major issues currently threatening the indian economy and the indian people is the rise in petrol and diesel prices. The price of crude oil has risen to $ 139 a barrel in the last three weeks. india has paved the way for money transfer between russia through some of Russia's smaller banks that the world has forgotten to ban. Similarly, it is planned to do all trade in rupee-ruble to prevent entry into the international market.
Through this russia has come forward to supply crude oil and other commodities to india at discounted prices to enhance its trade. india is second only to china in that it does not impose sanctions on russia for its role in Russia's war on Ukraine. In this context, india has happily accepted Russia's request.

India, which imports 80% of its crude oil demand, usually buys only 2% to 3% of its crude oil from Russia. The amount of crude oil purchased from russia is low because of the long-term contract with the gulf countries for crude oil imports and the high cost of importing oil from russia to India.

But with crude oil prices soaring 40% so far this year, there is no doubt that Russia's discounted crude oil will greatly help mitigate its impact. Thus it is predicted that an increase of 5 rupees would be sufficient instead of the 25 rupees per liter to be raised. But there are also some important problems with crude oil imports from Russia. Especially oil tanker, insurance security, crude oil compound phone problems. If this is rectified soon it will be possible to import crude oil from russia at exorbitant discounted prices.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

russia offer to india

Related Articles: