Recently, the meeting of Prime Minister Narendra Modi and Russian President Vladimir Putin in Samarkand, Uzbekistan was in discussion. During this, Modi also advised Putin regarding the Ukraine war. This advice is being appreciated from all over the world. The meeting of the two leaders came at a time when some countries of the West had criticized India for importing cheap oil from Russia. But after the Ukraine war, India continued to buy oil from Russia despite the harsh sanctions imposed on Russia by many countries including the US. India has made huge savings of 35 thousand crore rupees through oil purchases from Russia.
India's decision despite opposition
India had decided to import oil despite opposition from Western countries. There was a lot of discussion about the pros and cons of this decision. Presenting the data in a report by Reuters, it has been said that India imported 6.6 million tonnes of crude oil from Russia in the first quarter of this year. This increased to 84.2 million tonnes in the second quarter. During this, Russia also gave a discount of $ 30 per barrel. Due to this, the cost of importing one tonne of crude oil in the first quarter was about $ 790.
3500 crore profit
After this, it dropped to $740 in the second quarter. In this way, India got a total benefit of Rs 35,000 crore. The cost of imports from other sources increased during the same period. Cheap oil imports from Russia increased 10 times in 2022. The turnover has reached 11.5 billion dollars. It is likely to reach a record $13.6 billion by the end of the year. India has emerged as the second largest buyer of Russian crude oil after China.
Russia third largest oil supplier
Russia became India's second-largest oil supplier in July, overtaking Saudi Arabia in third place. However, Saudi Arabia later regained its position by August and now Russia remains the third largest oil supplier to India. Data shows that India's mineral oil imports from Russia rose eight-fold to $11.2 billion in April-July, compared to $1.3 billion in the same period last year.
Oil prices important for India
Since March, when India has increased imports from Russia, it has increased to over $12 billion, from a little over $1.5 billion last year. Of this, about $7 billion was imported in June and July. Oil prices are important for India as this import meets 83 percent of the demand. The Indian government spends a lot of money on this.
Country's oil import bill to double in 2021-22
The Times of India reported in a report that there is also a fact that the country's oil import bill doubled to $119 billion in 2021-22. This put a lot of pressure on government finances and also affected the economic recovery after the pandemic. Recently, Finance Minister Nirmala Sitharaman said in a seminar that importing oil from Russia was part of the inflation management strategy and other countries were doing the same.
Chinmoy Krishna Das Bail Plea: Next hearing on Chinmoy Das' bail after a month, no lawyer appeared due to fear of fundamentalists.
ISKCON priest Chinmoy Krishna Das, arrested in Bangladesh on charges of sedition, will have to remain in jail for another month. The Bangladesh court has postponed the hearing on his bail plea for the
Rishabh Pant's car accident due to a nap: narrowly escaped, broke the window of the burning car, and came out; Was going home to surprise mother
25-year-old cricketer Rishabh Pant narrowly escaped in a road accident on Friday morning. According to the police, the accident happened due to dozing off. His Mercedes went uncontrolled and hit the
Islamic extremism a big threat in Britain: PAK is provoking UK Muslims on Kashmir; Khalistani supporters speaking against India
Islamic extremism in Britain is becoming a major threat to the country. Along with this, the radical thinking of British Muslims and Khalistani supporters on the issue of Kashmir is also becoming a
BJP Vs Congress: Ruckus over Kerala Congress' social media post, comparing Bihar to a beedi; BJP hits back
A post by the Kerala unit of the Congress has stirred up a political storm, comparing Bihar with a bidi. The post was made on the social media platform X, which was later removed. It linked the
Due to one mistake, Sardaar Ji Diljit Dosanjh became everyone's enemy, Mika Singh revealed the secret by calling the singer FAKE.
Punjabi actor and singer Diljit Dosanjh's film 'Sardarji' 3 is going to hit the theatres in a few days, but even before that, the film has been surrounded by controversies. The film is releasing
IND vs IRE: There was a ruckus about the New York pitch, former cricketers slammed the ICC; and said - it is dangerous for the players
The International Cricket Council (ICC) always talks about sporting pitches, but except for two matches, the biggest tournament of the T-20 format being held under its supervision has not seen good
Maharashtra: Mumbai Police issues notice regarding 'International Traitor Day', warns Shiv Sena-NCP
Today is a special day in the politics of Maharashtra. In fact, on June 20 last year, under the leadership of Eknath Shinde, 40 MLAs rebelled against the Uddhav Thackeray government. Shiv Sena has
Anti-Modi slogans on the walls of a Hindu temple in Australia: Incident at Brisbane's Laxmi Narayan Temple, earlier the Indian Consulate was attacked here
Cases of attacks on temples are continuously coming to the fore in Australia. Now there has been an attack on the Shri Lakshminarayan Temple in Brisbane. According to the report of Australia Today,
Israel again wreaks havoc in Lebanon; 105 killed in air strike, seventh Hezbollah commander killed in a week.
Even after the death of Hezbollah Chief Sayyed Hassan Nasrallah, Israel's havoc in Lebanon is not stopping. On Sunday also, Israel carried out heavy bombing in the whole of Lebanon. 105 people have
PM Modi Japan Visit: PM Modi arrives in Japan, will attend the funeral of late Prime Minister Shinzo Abe
Prime Minister Narendra Modi has reached Tokyo today to attend the funeral of former Japanese PM Shinzo Abe. From here the PM will go to Akasaka Palace, where he will be greeted. Foreign Secretary
