According to Alipov, there are tremendous opportunities in fields like agriculture, sophisticated technology, development, and digitalization as well as infrastructure for airports, the sea and rail system, steel production, petrochemistry, startups, aircraft and ships, and those involved in aviation.
The Russian ambassador to India continued by saying that western businesses are just one way that Russia and India may cooperate in all of these sectors. The Russian government forbade local oil exporters and customs organizations from obeying price limitations put in place by the West on Russian petroleum earlier on Monday.
The action was taken to help carry out President Vladimir Putin’s decision from December 27, which forbade the delivery of crude oil and oil products to countries that adhere to the caps beginning on February 1 for a period of five months.
As part of Western sanctions on Moscow over its actions in Ukraine, the G7 countries, the European Union, and Australia decided on December 5 to prohibit the use of maritime insurance, finance, and brokerage services from the West for seaborne Russian oil priced over $60 per barrel.
Companies and individuals are prohibited from inserting oil price cap mechanisms in their contracts under the new Russian law.
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