India To Strike Oil Deal With Russia Amid Raging War In Ukraine | Latest Update
March 16, 2022
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3:31Now PlayingIndia To Strike Oil Deal With Russia Amid Raging War In Ukraine | Latest Update
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as posted by the channelIndia is set to take 3.5 million barrels of Russian crude oil as Russia is offering several commodities at hefty discounts. Even the payment mechanism is yet to be worked out by the Centre, it is said that Russia will take care of the shipping and insurance of delivery in a few months. The reason for this decision is that India depends on imports for 80% of its oil supply.
As the deal was in talks, earlier today the United States cautioned India against taking this deal. They said countries must think 'where they want to stand when history books are written'. But many US Allies still have trade ties with Russia. So it should not be something to worry about.
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