71
India ready to accept Russia’s offer of oil at a discount. The Economic Times quoted an Indian official as saying that the country was preparing to trade at one rupee – one ruble. The move comes as the world imposes sanctions on Russia, which continues its military operations in Ukraine.
India imports about 80 per cent of its oil needs. Oil imports from Russia are only two to three percent. India expects imports from Russia to slow down amid rising oil prices in the global market.
Russia has promised to import oil and many other commodities at huge discounts. We are happy to accept that. The offer will be accepted after the arrangements are made. Central government official clarified.