Exterior Affairs Minister S Jaishankar on Sept 10 asserted that India’s stand on the struggle between Russia and Ukraine “rests on some postulates” and emphasised that variations can solely be resolved by means of dialogue and negotiations, not struggle, and that negotiations are the one means ahead. The remarks by EAM got here whereas he … Read more
Russia’s proposal to India to make use of its personal monetary messaging mechanism – developed as an alternative choice to the SWIFT world community – to assist push rupee-rouble commerce settlement, has been scrutinised by the RBI and located “doable” however discussions proceed, sources have mentioned. A last resolution on the matter may also take … Read more
Indian refiners continued their buy momentum for medium bitter grades from its two largest buying and selling companions, Russia and Iraq, throughout Might 2024 as crude oil flows from one other prime provider, Saudi Arabia, declined resulting from increased costs. Analysts and commerce sources indicated that worth arbitrage favours Russia in opposition to Saudi Arabia … Read more
The Russian authorities has softened necessities for obligatory gross sales of international foreign money for exporters, if greater than half of the worth of their contracts, is paid in roubles, in response to modifications to a authorities decree. Additionally learn:Foreign currency trading: Greenback ebbs as markets await key world inflation studies President Vladimir Putin, signed … Read more
India’s coking coal imports are at a 10-year excessive with shipments of 58 million tonnes (mt) coming in throughout FY24, pushed by excessive demand from metal mills. Imports rose seven per cent y-o-y (from 54.3 mt in FY23) and over 20 per cent throughout a 10-year interval. Considerably, provides from Russia are at multi-year highs of … Read more
International crude metal manufacturing went up by 3.7 per cent in February 2024 to 148.8 million tonnes (mt) in opposition to 143.6 mt within the corresponding interval a yr in the past. For the January-February interval, manufacturing within the 71 nations that account for 85 per cent of world metal output was pegged at 306.9 … Read more
Russia has managed to make use of up most of its rupee stability, estimated by the business at over $8 billion that had piled up in particular vostro accounts of Indian banks on account of funds made largely for Russian defence purchases, and the matter will not be a serious concern now, officers have mentioned. … Read more