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Russia is India's biggest strategic partner in ALL senses, but alas trade between the two is a mere $10 billion a year. Here Russia offers an exclusive chance to increase trade between the two nations. India must grab this opportunity.
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Russia Plans Joint Arctic Shelf Oil and Gas Projects With India
Kremlin plans to attract Indian companies to develop hydrocarbon deposits on Russia’s Arctic shelf.
India will help Russia develop the Arctic shelf.
Moscow plans to invite companies from India to jointly extract oil
and gas from Russia’s Arctic shelf deposits, Kremlin aide Yuri Ushakov
said Wednesday.“There are plans to attract Indian companies to developing hydrocarbon deposits on Russia’s Arctic shelf,” he said
Last year, Russia’s state-controlled oil company Rosneft signed a
memorandum of understanding with India’s Oil and Natural Gas
Corporation, paving the way for joint projects in Russia’s
offshore Arctic.
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Russia is looking to boost its presence in the
Arctic after the country’s 2014 revised military doctrine included
for the first time the protection of national interests in the oil- and
gas-rich region.
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Russia and India enjoy strong bilateral ties
as the two countries also cooperate within major international
organizations, such as BRICS, which also includes Brazil, China and
South Africa.
