India Narrative

Russian energy major Rosneft has announced the discovery of a huge oil deposit on the shelf of the Pechora Sea flowing from the Ural Mountains to the Arctic Ocean in the northwest of Russia. Containing an estimated 82 million tonnes of oil, it is believed to be one of the largest discoveries on the Russian shelf in recent times. “The field was discovered based on the results of drilling a prospecting and appraisal well at the structure of the same name in the Medynsko-Varandeysky license area. The work was carried out by specialists from RN-Bureniye and RN-Shelf-Arktika (part of Rosneft) using advanced Russian equipment and in accordance with the highest standards of industrial safety and environmental protection. The resulting oil is light, low-sulfur, low viscosity," the company said in a statement recently. As geological explorations continue in the region, the latest discovery comes at a time when the Western countries remain committed to phase out dependency on Russian energy

As pressure builds on New Delhi to take sides and condemn Russia after it invaded Ukraine, the Chinese state owned media, mostly echoing the government's sentiments, has come out in support of India. It said that New Delhi should be allowed to make decisions based on its own national interests.  Amid a surge in global crude prices, India is also looking to buy oil from Russia at a discounted rate, something that will help New Delhi in cushioning its economy. While the US said that India’s purchase of crude oil from Russia will not violate the stringent sanctions imposed against Russia by the West, Washington warned that it may put India “on the wrong side of history.” Global Times in a column titled ‘It is necessary for China, India to mend their fraught relations’ said that it is India's legitimate right to develop economic and trade relations with Russia based on its own national interests. Following the Galwan Valley clash on India-China relations nosedived. The mouthpiece o