Russia was frustrated to learn that Pakistan had not started the process it committed to Moscow to start the first shipment of crude oil. Pakistan had committed that it would set up a new Special Purpose Vehicle (SPV) company that would be responsible for the import of Russian oil to Pakista
The forum discussion started on March 29 and will continue till tomorrow March 30. The purpose of the meeting is to strengthen Indian-Russian business ties and support the entry of Russian companies into the Indian market.
On September 2, G7 Finance Ministers initiated a price cap on Russian-origin crude oil and petroleum products to be implemented by each coalition member in the wake of Russia-Ukraine war
The United States has said that "each country is going to make its own decision" when asked about India's ties with Russia and purchase of oil from Russia.
Responding to a question that how Germany is engaging with India on the Russia-Ukraine issue, the Finance Minister said that Russia's invasion of Ukraine is not especially a matter of the host (India) country, it is a matter of the international community.
The German Ambassador also said that India is a very appropriate candidate at some stage to come up with a solution to the Russia-Ukraine conflict but the stage is not now.
Pakistan on the one hand is finalising deals with Russia to buy oil despite sanctions. While also supplying arms to Ukraine, ultimately causing casualties in Russia.
Gatik Ship Management is among the most active of the upstart companies that have snapped up aging oil tankers to replace Western-owned ships no longer dealing with Russia, the WSJ said. That parallel fleet is helping Moscow get crude to buyers in Asia, the Journal added.
Russia and Pakistan will approve all the details of oil and gas supplies by March 2023, which will be based on mutual interests, according to the joint statement.
As the world sits on the brink of a third world war amid the ongoing Ukraine conflict, two military superpowers of the world - US and Russia are claiming India to be its ally.
Notably, India last year took over the UK to become the fifth largest economy in the world and is aiming to be the third largest economy in the world by 2037, while Pakistan's economy is running on financial assistance from the global community.
In an interview with the Austrian publication, he said, " Europeans needed a wake-up call to understand that the difficult aspects of life are not always taken care of by others, adding, no region will be stable if dominated by a single power."