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Russia, India bilateral trade will touch new record, crude oil supply to India will continue: Russian envoy

New Delhi: India’s crude oil supply trend will continue, and bilateral trade will set new records, Russian Ambassador to India Denis Alipov said in an interview with ANI. “India, being a consumer, is naturally looking for the cheapest offers and Russia, deprived of its traditional markets in Europe, for example, is looking for new markets, therefore between the best available options and the best available offers. This meeting is driving trade and our relations in the energy sector, it is natural that we think this trend will continue in a structured manner,” the Russian envoy said.

(Also read: Rating agency Fitch cuts global growth forecast, sees UK recession closer,

“With no one knowing what the energy market will look like by the end of the year, we want to further expand our relationship in this area to foster ongoing dialogue and cooperation based on long-term arrangements and agreements,” he said. Huh.”

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According to an estimate, there has been a huge jump in Russian oil exports to India, as it has increased ten times this year and Russian crude oil is now meeting about 10% of India’s imported oil consumption. “Volume (Trade has already reached USD 11.5 billion in the half of the year. We will probably set and strike a new record in our trade by the year, as we did in the last one when our trade reached USD 13.6 billion) was,)” said the ambassador.

The Russian envoy said that India and Russia want to further expand ties in the energy sector as the situation in the future is unpredictable.

Europe and the US had raised objections about the huge jump in Russian exports to Asian giants India and China. The envoy also explained the stand taken by India on oil imports. He appreciated the recent comments made by External Affairs Minister S Jaishankar and criticized the West for practicing double standards.

“I believe these are the same double standards, hypocrisy and geopolitics. Jaishankar was very clear in articulating the imperative to meet the needs of the Indian people, essentially we can put it this way. that the West ignores the legitimate national interests of India just like it did during colonialism most of the time,” he said.

The Russian envoy termed the G7’s plan to cap rates on Russian oil prices as narrow-minded and unrealistic, which according to him will certainly affect the global supply chain.

“I believe that this ill-intentioned move to impose a cap on the Russian oil price by administrative measures is both narrow and unrealistic and will certainly affect global supply chains, resulting in a rise in energy rates, If this craze is implemented. Russia will stop selling oil only to countries that decide to join this initiative because we will stop supplying gas. It affects Russia to a great extent but ultimately it will be Europe Who will feel the pain, ”said the Russian ambassador.

Speaking on the war in Ukraine, the Russian envoy said that India is aware of the complexity and origins of the conflict. He said, “We appreciate that India’s approach has been very consistent, very balanced, India is well aware of the origin of the crisis, we have nothing against the Ukrainian people. We are the brothers of the Ukrainian people but the present in Kyiv.” The regime has become a very obvious anti-Russian project, with President Zelensky leaving the Russian-speaking population in the Donbass region to label the people there as races and launch a military campaign against them, this is now in effect. It has become a Western proxy war against Russia and NATO proxy war. Against Russia.”

“We use a long-term approach on our part with our neighborhood that we wanted to be peaceful, stable and free of threats; we will not accept the argument that we have been accused of an unreasonable, unprovoked invasion of Ukraine. We believe this is wrong on both accounts, so India is well aware of the complexity of the Ukrainian conflict and acts in its own national interest.”

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