Indian state-owned refineries are collaborating to negotiate long-term oil import agreements with Russia.
India and Russia have not yet finalized specific details, such as the currency to be used for Russian oil imports, according to an Indian government source.
PM Modi and President Putin discussed enhancing cooperation in the energy sector.
India-Russia energy cooperation is expected to strengthen in the future.
India aims to achieve a 20% ethanol blending target by the next financial year.
Discounted Russian oil has helped maintain stable domestic prices.
Business
Editorial
India and Russia Negotiate Long-Term Oil Import Agreements to Enhance Energy Cooperation
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Geopolitical Analyst & Editor
Kanika Sharma is a Geopolitical Analyst and Editor at BigBreakingWire. She holds a Master's degree in History from the Central University of Punjab, with an academic background in qualitative research, text analysis, and historical frameworks. At BigBreakingWire, she analyzes global trade shifts, international policies, geopolitical developments, semiconductor supply chains, manufacturing policies, and sovereign industrial initiatives. Her work combines historical context with contemporary policy and macroeconomic analysis to explain complex global developments clearly and accurately.
Last reviewed by Kanika Sharma on August 31, 2026
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