India, Russia Eye Direct LNG Deal After Ukraine War Pause
As energy pressures rise, India and Russia are moving to rebuild direct fuel ties. These ties had slowed after the Ukraine war. India and Russia are preparing to resume direct LNG deals. This marks a shift after India had cut Russian oil buys earlier this year. The move follows a... The post India, Russia Eye Direct LNG Deal After Ukraine War Pause appeared first on Equitypandit.
As energy pressures rise, India and Russia are moving to rebuild direct fuel ties. These ties had slowed after the Ukraine war. India and Russia are preparing to resume direct LNG deals. This marks a shift after India had cut Russian oil buys earlier this year.
The move follows a 19th March meeting between Energy Minister Hardeep Singh Puri and Russia’s Pavel Sorokin. At this meeting, both sides agreed to begin talks.
India may also increase Russian crude imports, which could rise to around 40% of total imports in the near term.
The push comes as global energy prices surge. Middle East tensions also disrupt key supply routes, such as the Strait of Hormuz.
India has approached the US for a sanctions waiver, as the deal could risk breaching Western restrictions. Officials see Russian energy as a backup supply route, helping avoid disruptions and control inflation risks at home.
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The post India, Russia Eye Direct LNG Deal After Ukraine War Pause appeared first on Equitypandit.
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