Whalesbook
Visit Postponed for Parliamentary Duties
Finance Minister Nirmala Sitharaman's planned visit to Russia has been postponed. The trip was intended to foster BRICS financial cooperation and include high-level meetings, such as those with the New Development Bank. Sources cited urgent parliamentary work, particularly preparations for the Women's Reservation Bill, as the reason for the postponement.
Moscow Assures India on Oil Supplies
Russian Foreign Minister Sergey Lavrov assured India that energy supplies would continue. He described the bilateral relationship as "unbreakable" and based on deep friendship. Lavrov stated Moscow would fully safeguard India's interests in Russian energy supplies, dismissing "unfair external competition" as a threat to their trade.
US Waiver Uncertainty Impacts Oil Imports
These assurances come as India faces uncertainty over a critical US waiver. This waiver permits Indian refiners to purchase certain Russian oil grades. If not extended past May 16, Indian processors may need to seek more expensive spot barrels from other sources. India's crude oil purchases from Russia have already decreased by over 15%.
Long-Standing Russia-India Cooperation
Lavrov highlighted ongoing cooperation projects, naming the Kudankulam Nuclear Power Plant as a key example. Russia is a major supplier of coal, oil, and gas to India, with further nuclear power plant cooperation under discussion. He also noted Prime Minister Narendra Modi's focus on India's sovereignty and the deep stability of India-Russia relations.