Page 3 - India-russia Ties

Jaishankar, Lavrov to hold talks in Moscow on Nov 8: Russian ministry

External Affairs Minister S Jaishankar will travel to Moscow to hold talks with his Russian counterpart Sergey Lavrov on November 8, a Russian foreign ministry spokesperson said on Friday. The proposed visit comes amid a fresh wave of hostilities between Russia and Ukraine following a huge blast in Crimea nearly two weeks ago. "Russian Foreign Minister Sergey Lavrov will have talks with External Affairs Minister of India S Jaishankar on November 8 in Moscow," Russian Foreign Ministry Spokeswoman Maria Zakharova said. "The ministers will discuss the current state of bilateral relations and the international agenda," she added. There is no comment yet from the Ministry of External Affairs (MEA) on the proposed visit of Jaishankar. Since the Ukraine conflict began in February, Prime Minister Narendra Modi has spoken to Russian President Vladimir Putin as well as Ukrainian President Volodymyr Zelenskyy a number of times. In a phone conversation with Zelenskyy on October 4, Modi said

Russia's VTB Bank opens 'vostro' account in India for rupee-based trade

Russia's No.2 lender VTB said it had opened a special "vostro" account at its Indian branch that would allow for the more active use of Indian rupees in payments under import and export contracts

India to examine price cap proposal for Russian crude: Hardeep Singh Puri

India will examine the price cap on Russian oil proposed by the West, oil minister Hardeep Singh Puri said on Wednesday.

India to examine Russia oil price cap as refiners line up Dec crude buys

India has emerged as Russia's second biggest oil client after China as some western entities shunned purchases form Moscow following its late February invasion of Ukraine

India-Russia JV hopes for $5 bn in supersonic missile exports by 2025

The joint venture, with a 50.5% Indian and 49.5% Russian partnership, fits into PM Modi's flagship make-in-India programme

India unlikely to join G7 push to cap Russian oil prices to counter Putin

The move to cap prices of Russian oil comes amid efforts to reduce Russia's revenue to counter its advances in Ukraine war, with minimum impact on global energy crisis

Will weigh what Russia offers on Sakhalin-1 ownership revamp: Hardeep Puri

India maintains a "healthy dialogue" with Russia and will look at what is offered following announced ownership revamp to the Sakhalin-1 oil and gas project, Hardeep Singh Puri said

Russia bounces back to become India's second-largest crude supplier in Sep

Russian oil has become the mainstay of Indian refiners in only six months, a position which took decades for West Asian suppliers and the US to achieve

No difficulties with Russia on servicing of military equipment: Jaishankar

Asserting that it exercises a choice which it believes is in its national interest, India Tuesday said it has no difficulties with Russia on servicing of military equipment and spare parts in the aftermath of the war in Ukraine. "On the military equipment (from Russia), to the best of my knowledge, I don't think in recent months we have faced any particular problems in terms of servicing and spare parts supply of equipment that we have got in the past from Russia," External Affairs Minister S Jaishankar told reporters at a joint news conference with US Secretary of State Antony Blinken. "Where we get our military equipment and platforms from, that's not an issue, honestly, which is a new issue or an issue which has particularly changed because of geopolitical tensions," he said. India, he noted, looks at possibilities across the world. "We look at the quality of technology, the quality of capability, the terms on which that particular equipment is offered, and we exercise a choice .

UCO Bank, used by India for Iran payments, plans rupee trade with Russia

UCO Bank will put in place operational modalities before opening the account with the Russian counterpart, Prasad said, adding that there is no clear time line on when transactions can begin

US-India in talks to reduce country's dependence on Russian arms, energy

Russia is "no longer a reliable weapons supplier", and Indians are "coming to understand" that they could benefit from finding other suppliers, an official of the US State Department said

After Russian flows dry up, India pays up to double price for gas

GAIL India Ltd. bought several LNG cargoes for delivery between October and November at more than double the price it paid around this time last year.

Banks seek clarity on 'grey areas' from RBI on Rupee Vostro accounts

India has stepped up its purchase of cheaper Russian crude despite international opposition and sanctions. New Delhi is looking to settle this trade in rupees to continue with its purchases

France respects India keeping Russia ties, says foreign minister

India has not condemned Russia's February invasion of Ukraine, instead calling for negotiations and peace

Putin, PM Modi to discuss Russia-India cooperation in UN, G20: Kremlin

Russian President Vladimir Putin and Prime Minister Narendra Modi will meet on the sidelines of the SCO Summit in Uzbekistan this week and discuss issues of strategic stability, the situation in the Asia Pacific region and bilateral cooperation within the UN and G20, the Kremlin has announced. Putin and Modi will attend the 22nd meeting of the Council of Heads of State of the Shanghai Cooperation Organisation (SCO) in the Uzbek city of Samarkand on September 15-16. "A conversation on the international agenda with Modi will also take place, the sides will discuss issues of strategic stability, the situation in the Asia Pacific Region, and, of course, cooperation within major multilateral formats, such as the UN, the G20 and the SCO," the official Russian news agency TASS quoted Presidential Aide Yuri Ushakov as saying. "This is particularly important, because India will preside in the UN Security Council in December, and, in 2023, India will lead the SCO and will also chair the G20,"

Top headlines:Adani to build 3 giga factories; FM says inflation manageable

Business Standard brings to you top headlines for the evening

In meeting on Russia's Far East, India to focus on expanding oil footprint

PM Modi to address by video four-day meeting of Eastern Economic Forum in Vladivostok

India's oil imports from Russia fall in last two months, down 25% from June

In August, India imported 7,38,024 barrels per day from Russia, 18 per cent lower than in July

How the Indian military can be weaned off its dependence on Russian weapons

Shifting toward buying more Western weapons systems and lessening its dependence on Russia, for instance, would bolster India's autonomy

Amid sanctions from the West, INSTC raises Russian trade volume with India

INSTC is a 7,200 km transportation network ratified by 13 countries, viz, Azerbaijan, Belarus, Bulgaria, Armenia, India, Iran, Kazakhstan, Kyrgyzstan, Oman, Russia, Tajikistan, Turkey, and Ukraine