SOURCE: IANS
India’s strategy of continuing to buy cheap oil from Russia despite Western pressures against these purchases has resulted in the saving of around $7. 9 billion in the country’s oil import bill during the first 11 months of the fiscal year 2022-23 and also helped the country to lower its current account deficit.
Prime Minister Narendra Modi-led government has stood firm in maintaining its ties with Russia despite the Western sanctions against Moscow.