New Delhi and Moscow during PM Narendra Modi’s visit (July 8-9) will push for a long-term arrangement for crude supplies from Russia to India in the backdrop of rising Russian oil exports.
The need for a long-term arrangement enabling smooth supply of Russian crude to India at discounted rates has been under discussion between the two sides.
“We are a longstanding partner of Russian federation. We have had discussion with the Russians on long-term deals,” Oil Minister Hardeep Puri had said after being reappointed in the same portfolio under Modi 3.0.
“I am confident that both our private and public sector players will sign long-term deals with countries where they see benefit in doing so,” Puri had said, when asked if Indian state-run companies are looking at signing such deals with Russia