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India’s Crude Oil Trade with Russia

  Apr 27, 2022

India’s Crude Oil Trade with Russia

Q Why is it in News ?

A The Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) has bought two million barrels of Russian crude oil as Indian energy majors forge ahead with attempts to secure a part of the Russian energy supply.

Q What is the news?

Q How much is India’s import dependence and Russia ?

India’s nuclear power project in Kudankulam in Tamil Nadu is built with Russian collaboration.

Q What is at stake in oil trade with Russia?

Q What are the risks posed by payment crisis ?

Q Why is oil supply from Russia important?

Q How’re the two nations handling the situation?

Q How is India extending the collaborations ?