Moscow: President Putin has called for the opening of Indian supermarkets as India buys crude oil and coal from Russia at a 30 per cent discount.
Russia’s invasion of Ukraine poses economic threats around the world. Thus the price of gold and crude oil rose sharply. Russia sells crude oil to countries, including India, at affordable prices as the United States and European countries refuse to buy crude from Russia in retaliation for the attack on Ukraine.
India’s crude oil imports from Russia reached record highs in May. As a result, Russia has risen to become the second largest seller of crude oil to India in May.
Following crude oil, India is buying coal from Russia at a 30 per cent discount. Following this trade, Russia is taking steps to import various goods from India.
Russian President Vladimir Putin attended the BRICS summit for the first time since Russia’s invasion of Ukraine. The BRICS summit was held in India, China, Russia, Brazil and South Africa. Prime Minister Modi was also present.
Russian President Vladimir Putin, who attended the BRICS conference on video, said he was consulting on opening Indian chains in supermarkets in Russia. Then he said:
We are shifting our trade and crude oil exports to countries from the BRICS group of emerging economies in the wake of Western sanctions on Ukraine.
Russia’s presence in the BRICS countries is increasing. Russian oil exports are increasing, especially to China and India.
We are going to increase the presence of Chinese cars in the Russian market. We are also considering opening Indian supermarkets in Russia.
Ways can only be found on the basis of honest and mutually beneficial cooperation to get out of the crisis situation created in the world economy by the misconceptions and selfish actions of some countries.
In fact these countries are shifting the mistakes made by their own economic policy to other parts of the world.
Thus he spoke.