Lavrov stated the mutual interest of Russia and India in the production of hydrocarbons

Russia has a mutual interest with India in implementing joint projects for the extraction of hydrocarbons, including in the Russian Federation – in the Far East and on the Arctic shelf. This was announced on August 21 by Russian Foreign Minister Sergei Lavrov following talks with his Indian counterpart Subramaniam Jaishankar.

"We have good results in cooperation in the field of hydrocarbons and the supply of Russian oil to the Indian market," Lavrov said.

The diplomat also noted the special nature of relations between Russia and India and mentioned that the economic base of the strategic partnership is being strengthened "steadily and progressively."

Delivery played: India has made a decision on Russian oil

Fuel purchases from the Russian Federation are an issue of energy security for 1.4 billion residents of the republic, the ambassador said.

On August 8, a report by the State Bank of India (SBI) noted that India's fuel costs would increase significantly if it refused to purchase Russian oil. It is noted that if India stops importing oil from Russia by the end of fiscal year 2026, fuel costs could increase by $9 billion and by $11.7 billion in fiscal year 2027.

On August 21, India's ambassador to Russia, Vinay Kumar, told Izvestia that India would not abandon purchases of Russian oil. He added that the country is sensitive to any measures and any actions of those who "encroach on the sovereignty of India."

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