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Trade gap set to rule talks
Financial Express Bengaluru
|December 03, 2025
AFTER THE US imposed sanctions on biggest Russian exporters - Rosneft and Lukoil -- India scaled back purchases from Russia.
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Pescov said by 2030 bilateral trade can touch $ 100 billion. “And what is very important is we have to organise our trade volume in a way that cannot be affected by a third country?
“We are finding ways not to let the volume of (oil) trade down. For a very brief time there can be insignificant drops in the volume of trade of oil. We are doing our best to ensure that we continue our trade,” Pescov said. After sanctions on the two Russian oil giants, Indian refiners are buying more and more oil from entities that are outside the sanctions.
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