India did world a favour by buying Russian oil: Hardeep Puri
“India did the entire world a favour by buying Russian oil because if we had not done so, the global oil prices would have skyrocketed to $200/barrel,” the minister said on X on Thursday.
“India did the entire world a favour by buying Russian oil because if we had not done so, the global oil prices would have skyrocketed to $200/barrel,” the minister said on X on Thursday.
While Borrell met with Jaishankar at the trade technology talks in Brussels, he was not present at the press conference that followed.
The Protection and Indemnity (P&I) insurance of these ships is invalid due to the EU sanctions and such insurance cannot be compensated in the event of an accident.
European Commission president said the step will diminish Russia's revenues and, at the same time, it will stabilise global energy markets.
The European Union is poised to tighten its screws on Russia with the decision to impose an embargo on Russian oil after weeks of intensive talks.
“Let us be clear, it will not be easy,” Ms. von der Leyen told European deputies at the parliament’s plenary session in Strasbourg, France. “Some member states are strongly dependent on Russian oil. But we simply have to work on it.”
A geopolitical conflict has assumed the character of an economic war with the European Union accusing Russia of “blackmail” in the context of Gazprom’s move to halt gas supplies to some European customers.
India, the world's third-largest oil consumer and importer, imports 80 per cent of its oil, but only about 2 per cent to 3 per cent of those purchases come from Russia.
US has banned Russian oil import, every country has not made that decision. And we recognise that and they have different economic reasoning as to why different countries do including some in Europe.
