India announced its intention to purchase a coal mine in Russia

India is interested in investing in mining projects in Russia and is considering buying the mine in whole or in part. This was announced on May 18 by Sandeep Poundrik, Deputy head of the Indian Ministry of Heavy Industry and Steel.

"We want to cooperate both in the field of procurement and import, and through the participation and investments of Indian companies in Russia. We want Indian companies to come to Russia and invest in coal mining and other mining projects. <...> We are considering acquiring shares in existing fields, fully purchasing the field or partially participating," he said in an interview with TASS.

Poundrick clarified that these issues are the subject of commercial negotiations. He noted that in addition to coking coal, nickel, manganese and other raw materials used in metallurgy are of interest to India. The representative of the department stressed that from the point of view of the raw material base, Russia and India have great potential for cooperation.

Delhi — time: India has not decided to abandon Russian oil

What will happen next with the supply of domestic raw materials and how this may affect prices

Sujata Sharma, a representative of the Indian Ministry of Oil and Gas, said on May 18 that Russian oil supplies to India are carried out regardless of American decisions on sanctions or exceptions to them. She stressed that oil trade is carried out based on the commercial interests of oil companies. At the same time, there is no shortage of oil in India, the representative of the department added.