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Reuters reported in July that Indian refiners began using yuan to pay for some oil from Russian sellers, while continuing to use dollars and dirhams to settle most of their Russian oil purchases. Indian refiners buy most of their Russian oil from traders, while making some direct purchases from Russian entities. State-run Indian Oil Corp (IOC.NS), the country's top refiner, has used yuan and other currencies to pay for Russian oil, Reuters reported previously. Private Indian refiners have continued to pay in yuan and other currencies for Russian oil imports, sources said, with most Indian purchases of Russian oil paid in dirham. Indian Oil, BPCL and HPCL and the country's oil and finance ministries did not immediately respond to Reuters' requests for comments.
Persons: Tatiana Meel, Nidhi Verma, Tony Munroe, Simon Cameron, Moore Organizations: REUTERS, European Union, Reuters, Gazprom Neft, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, DELHI, India, Moscow, Ukraine, United States, dirhams, Gazprom, dirham, Hong Kong, China
The Delhi Gymkhana Club is one of the oldest and most elite private clubs in India. AdvertisementAdvertisementMembers of the Delhi Gymkhana — one of the oldest private clubs in India — are trying to wrest back control after India's far-right government seized it in 2022. The club was first established by British colonists in 1913 as a sporting club called the Imperial Delhi Gymkhana, according to its website . Some of the club's members say that the government takeover is part of the BJP's broader agenda to control the country's social institutions. Ajai Shukla, a former army colonel, said the takeover reflects motivations to control "instruments of privilege and hand them out as favors."
Persons: , Narendra Modi, Bharatiya Janata Party —, Ajai Shukla, Atul Dev, Dev Organizations: Delhi Gymkhana, Service, Imperial Delhi Gymkhana, Salute Magazine, Financial Times, Bharatiya Janata Party, Hindustan Times Locations: Delhi, India, Imperial
Chirag Bahri worked as an engineer on merchant vessels during a nearly decade-long career at sea. In 2010, his chemical tanker was held hostage by pirates for eight months. I had just joined the crew and I really needed to be on the ship to earn money. I was in the engine room when I got the call that pirates had boarded the ship. I still cherish the time I spent working onboard ships and I would encourage people to look at seafaring as a very positive, rewarding profession.
Persons: Bahri, , Marguerite, Farah Abdi Warsameh, I'm, Bahri's, Dharmesh Gohil, Sattish Bate, Chirag Bahri, Dierk Lindemann, there's Organizations: Service, Chirag Bahri, International, International Seafarers Welfare, Assistance, Regional, South, Maritime, Google, International Maritime Bureau, AP, Hindustan Times, Getty, Asphalt Venture, Chirag Locations: South Asia, India, Belgium, Aden, Asia, East, Europe, Somalia, English, al, Shabab, South Somalia, Salalah, Chirag
Apple might be headquartered in Cupertino but its heart is in China. AdvertisementAdvertisementApple's leadership may operate from the 175-acre, tree-covered campus in sunny Cupertino, California but, in reality, the company's center of gravity is in China. Roughly 95% of Apple products including iPhones, AirPods, Macs and iPads are reported to be made in China . And multiple media outlets reported that China had banned iPhones for government staffers, knocking its share price. Apple CEO Tim Cook likes to present the company's decades-long involvement with China as a cause for celebration.
Persons: , Research, Tim Cook, Anshuman, Gene Munster, Jay Newman Organizations: Apple, CCP, Service, Hindustan Times, Deepwater Asset Management, Elliott Management, Huawei, China, Forum Locations: Cupertino, China, Cupertino , California, iPhones, India, Taiwan, Beijing
Asia’s breakup party is happening under duress
  + stars: | 2023-10-04 | by ( Pranav Kiran | ) www.reuters.com   time to read: +4 min
As with other big breakups in the region however, there are unspoken reasons for him to join the party. Vedanta Resources is in talks with bondholders to extend the maturity by roughly three years on about $3.2 billion of debt due in 2024 and 2025. But even then, Vedanta Resources may still have a funding gap until 2027 under certain conditions, according to JPMorgan. Even if those were sold for as much as $1.5 billion, JPMorgan estimates Vedanta Resources will at most receive only $350 million in net proceeds. For every one share in Vedanta, shareholders will receive one additional share of each of the five new companies.
Persons: Anil Agarwal, Ajay Agarwal, Vedanta, Mukesh Ambani, Una Galani, Katrina Hamlin Organizations: Reuters, Vedanta, Vedanta Resources, London Stock Exchange, JPMorgan, Hindustan, HK, Reliance Industries, Thomson Locations: BENGALURU, Mumbai, Hindustan, People’s Republic, Asia, Vedanta
But it has been investing heavily in its domestic arms industry with the goal of equipping its own forces and increasing its arms sales around the world. Recent arms sales and exercises illustrate how India seeks to turn that domestic arms production into foreign sales and perhaps even take some of that market away from its biggest supplier. The leaders discussed "defense platforms" and "equipment-related linkages" and deepening cooperation between their militaries and defense industries. (Egypt and India collaborated on development of the Helwan HA-300 light supersonic interceptor in the 1960s, but that project was ultimately canceled.) After all, Indian defense exports in recent years were negligible compared to heavyweights like the US and France, and New Delhi remains heavily reliant on imports.
Persons: , JEWEL SAMAD, Swathi, Modi, Abdel Fattah al, Egypt's, Abdel Fattah el, Sisi, Narendra Modi, MANJUNATH KIRAN, Paul Iddon Organizations: Service, Getty, Armenia —, Armenia, Indian Press, Anadolu Agency, Indian, Indian Air Force, Tejas, Hindustan Aeronautics Limited Locations: India, New Delhi, Russia, Ukraine, Moscow, Armenia, East, Egypt, France, Cairo, Brahmos, Bangalore, China
India, which is the world's third biggest oil importer, has become the top buyer of seaborne Russian oil, mainly Urals, since 2022 after Western sanctions against Moscow. Alternatives are much more expensive and not easily available," a trader familiar with the Russian oil market said. Russian Urals oil typically gives higher yields of diesel, which accounts for about two-fifths of India's overall refined fuel consumption. The Western price cap on Russian oil allows buyers to use Western services such as shipping and insurance in the event that crude trades below $60 per barrel. Russian oil is also now being sold to customers in new markets like Brazil, the Indian source said.
Persons: Tatiana Meel, Brent, HPCL Mittal, Nidhi Verma, Alexander Smith, Elaine Hardcastle Organizations: REUTERS, Moscow, Board, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, Reliance Industries Ltd, Nayara Energy, Reuters, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, Ukraine MOSCOW, DELHI, India, Moscow, Saudi Arabia, Baltic, Mangalore, Russian, Turkey, China, Bulgaria, Brazil, New Delhi
A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. The move to demerge could help Vedanta's parent, Vedanta Resources, to manage its debt load, according to Bloomberg's report, which added that Vedanta Resources will remain the holding company for the new units. Vedanta did not immediately respond to a Reuters request for comment on the report outside business hours. The plans stand in contrast to Agarwal's attempts in 2020 to delist Vedanta Ltd to expedite the process of simplifying its corporate structure, which failed. Vedanta Resources has been scrambling to raise funds due to rating downgrades and concerns about meeting debt obligations.
Persons: Danish Siddiqui, Anil Agarwal, Agarwal, Akanksha, Shweta Agarwal Organizations: Vedanta, REUTERS, Danish, India's Vedanta, Bloomberg, Vedanta Resources, Resources, Hindustan Zinc Ltd, Vedanta Ltd, Thomson Locations: Mumbai, India, Hindustan, Bengaluru
BENGALURU, Sept 13 (Reuters) - India's Aeroflex Industries (AERO.NS), whose metal hoses are used in utilities, refineries and fire fighting equipment, is in talks to enter the aerospace sector, a top company executive said, aiming to capitalise on the country's burgeoning space program. "It is our aim that our products be a part of India's next space mission," Aeroflex Managing Director Asad Daud told Reuters in an interview last week. While HAL and BHEL are existing clients, the ongoing talks are a first for specific space-related projects, he said. Aeroflex expects its total revenue to increase by 35% in the next three to four years, with at least 5% coming from aerospace, Daud said. Aeroflex has three Chinese suppliers that, currently, meet 70%-75% of its needs for their coils.
Persons: Asad Daud, Daud, Aeroflex, Hritam Mukherjee, Dhanya Organizations: Aeroflex Industries, Reuters, Hindustan Aeronautics Ltd, HAL, Electricals, Indian Space Research Organisation, ISRO, Thomson Locations: BENGALURU, India, India's, China, Bengaluru
India is also called Bharat, Bharata, Hindustan - its pre-colonial names - in Indian languages and these are used interchangeably by the public and officially. As Modi declared the summit in New Delhi open on Saturday, he sat behind a table nameplate that read "Bharat", while the G20 logo had both names - "Bharat" written in Hindi and "India" in English. Such placards have used "India" in the past. Speaking in Hindi, the language spoken by a majority of the population, Modi said "Bharat welcomes the delegates as the President of the G20". While some supporters of the name Bharat say "India" was given by British colonisers, historians say the name predates colonial rule by centuries.
Persons: Tanvi Mehta, Narendra Modi's, Bharat, Droupadi Murmu, Modi, YP Rajesh, Jacqueline Wong Organizations: South, Bharat, Rashtriya Swayamsevak Sangh, Bhartiya Janata Party, BJP, Developmental Inclusive Alliance, YP Locations: DELHI, India, Bharata, Hindustan, New Delhi, British, INDIA
A giant screen displays India's Prime Minister Narendra Modi at the International Media Centre, as he sits behind the country tag that reads "Bharat", while delivering the opening speech during the G20 summit in New Delhi, India, September 9, 2023. India is also called Bharat, Bharata, Hindustan - its pre-colonial names - in Indian languages and these are used interchangeably by the public and officially. As Modi declared the summit in New Delhi open on Saturday, he sat behind a table nameplate that read "Bharat", while the G20 logo had both names - "Bharat" written in Hindi and "India" in English. Speaking in Hindi, the language spoken by a majority of the population, Modi said "Bharat welcomes the delegates as the President of the G20". While some supporters of the name Bharat say "India" was given by British colonisers, historians say the name predates colonial rule by centuries.
Persons: Narendra Modi, Anushree, Narendra Modi's, Bharat, Droupadi Murmu, Modi, Tanvi Mehta, YP Rajesh, Jacqueline Wong Organizations: International Media Centre, REUTERS, South, Bharat, Rashtriya Swayamsevak Sangh, Bhartiya Janata Party, BJP, Developmental Inclusive Alliance, YP, Thomson Locations: New Delhi, India, DELHI, Bharata, Hindustan, British, INDIA
U.S. President Joe Biden and India's Prime Minister Narendra Modi talk during a meeting with senior officials and CEOs of American and Indian companies in the East Room of the White House in Washington, U.S., June 23, 2023. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsABOARD AIR FORCE ONE, Sept 7 (Reuters) - The White House expects to see meaningful progress on GE jet engines and civil nuclear technology in upcoming bilateral talks between U.S. President Joe Biden and India Prime Minister Narendra Modi, national security adviser Jake Sullivan told reporters on Thursday. Earlier this year, the aerospace unit of General Electric (GE.N) announced it had signed an agreement with India's state-owned Hindustan Aeronautics (HIAE.NS) to jointly make engines in India to power fighter jets for the Indian Air Force. Reporting by Nandita Bose and Jarrett Renshaw; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden, Narendra Modi, Evelyn Hockstein, Jake Sullivan, Nandita Bose, Jarrett Renshaw, Sandra Maler Organizations: India's, White, REUTERS, AIR FORCE, GE, U.S, India, General Electric, Hindustan Aeronautics, Indian Air Force, Thomson Locations: Washington , U.S, India
"Better late than never," Akash Tiwari, a private security officer in New Delhi, told NBC News of the rumored change. The country's constitution references both names: India to be used for statements in English and Bharat to be used in Hindi. The name India was derived centuries ago in connection to the Indus Valley, which lies in the northwest part of the country. "The meaning is the same, be it Bharat, Hindustan or India," said Amit Gihar, a fashion photographer. India is a very old name," said Vijender Singh, 28, who's been driving rickshaws around the capital for three years.
Persons: Akash Tiwari, Bharat, Narendra Modi, Amit Gihar, Vijender Singh, who's, Critics Organizations: NBC, Bharatiya Janata Party, BJP, Constitution Locations: New Delhi, India, Hindustan
[1/3] Police stand on a road outside 'Bharat Mandapam', the main venue of the G20 Summit, in New Delhi, India, September 3, 2023. By convention, invitations issued by Indian constitutional bodies have always mentioned the name India when the text is in English, and the name Bharat when the text is in Hindi. However, the invites -- in English -- for the G20 dinner called Murmu the President of Bharat. In English, the South Asian giant is called India, while in Indian languages it is also called Bharat, Bharata and Hindustan. While some supporters of the name Bharat say "India" was given by British colonisers, historians say the name predates colonial rule by centuries.
Persons: Bharat Mandapam, Altaf Hussain, Droupadi Murmu, Bharat, Narendra Modi’s, “ Bharat, Alexander the, Krishn Kaushik, William Maclean Organizations: REUTERS, Indian, Reuters, Bharatiya Janata Party, BJP, of States, Rashtriya Swayamsevak Sangh, Bharat, Thomson Locations: New Delhi, India, DELHI, Bharata, British, Greece
Murmu is hosting a reception for G20 leaders during the group's summit on Saturday and invitations were sent from her office. India is also called Bharat, Bharata, Hindustan - its pre-colonial names - in Indian languages and these are used interchangeably by the public and officially. High offices in the country have typically stuck to titles such as President of India, Prime Minister of India and Chief Justice of India while communicating in English. Supporters of the name change in the invitation said British colonial rulers had coined the name India to overshadow Bharat and forge a British legacy. Hindu groups linked to BJP said the G20 summit provided the best opportunity to shed India's colonial baggage.
Persons: Adnan Abidi, Droupadi, Bharat, Narendra Modi's, Rajeev Chandrasekhar, Mamata Banerjee, Shashi Tharoor, Rupam Jain, YP Rajesh, Alexandra Hudson Organizations: REUTERS, Bharatiya Janata Party, BJP, Bharat, INDIA, Developmental, Alliance, Reuters, YP, Alexandra Hudson Our, Thomson Locations: New Delhi, India, DELHI, Bharata, Hindustan, British, INDIA
BENGALURU, Aug 25 (Reuters) - Larsen & Toubro and Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market. The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO), the national space agency, as a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in. India is aiming to increase its share of the global satellite launch market by fivefold within the next decade. Under that contract, the companies will manufacture and deliver five Polar Satellite Launch Vehicles (PSLV) - often called ISRO's "workhorse" rocket.
Persons: Larsen, Narendra Modi, Nivedita, Sharon Singleton Organizations: Toubro, Hindustan Aeronautics, Indian Space Research Organisation, ISRO, SpaceX, HAL, Launch, Indian, Thomson Locations: BENGALURU, India, Bengaluru
BENGALURU, Aug 25 (Reuters) - Larsen & Toubro and Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market. The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO), the national space agency, as a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in. India is aiming to increase its share of the global satellite launch market by fivefold within the next decade. Under that contract, the companies will manufacture and deliver five Polar Satellite Launch Vehicles (PSLV) - often called ISRO's "workhorse" rocket.
Persons: Larsen, Narendra Modi, Nivedita, Sharon Singleton Organizations: Toubro, Hindustan Aeronautics, Indian Space Research Organisation, ISRO, SpaceX, HAL, Launch, Indian, Thomson Locations: BENGALURU, India, Bengaluru
[1/2] General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. REUTERS/ Hamad I Mohammed Acquire Licensing RightsNEW DELHI, Aug 25 (Reuters) - Dubai-owned ports giant DP World [RIC:RIC:DPWRD.UL] will invest around $510 million to build a new container terminal at the Kandla port in the Indian state of Gujarat, its group chairman said on Friday. DP world, which operates in 73 countries, last week reported a nearly 10% fall in first-half profit to $651 million despite a 13.9% year-on-year rise in revenue to more than $9 billion. The new terminal will take the combined capacity to 8.19 million TEUs, a company statement said. DP World’s Indian port and terminal investments are aligned with the country's Vision 2047, which aims to quadruple port handling capacity and develop logistics infrastructure to boost economic growth, the statement said.
Persons: Hamad, Mohammed, Sultan Ahmed Bin Sulayem, Manoj Kumar, Kirsten Donovan Organizations: United Arab Emirates, REUTERS, DELHI, Deendayal Port Authority, DP, Hindustan Infralog Private, National Investment, Infrastructure Fund, Thomson Locations: Jebel Ali Port, Dubai, United Arab, Indian, Gujarat, India, Deendayal, Hindustan, Mumbai, Mundra, Cochin, Chennai
ISROThe list is grim reading: Stuck, failed, missed, failed, failed, stuck, failed, crashed, missed, crashed, crashed. Even in the modern era — with nine lunar landing attempts since 2013 — the track record is still shaky. Before India's success Wednesday, missions by China, India, Israel, Japan and Russia were three for eight in the past decade. School students watching the live telecast of Chandrayaan-3 landing on the Moon at Sector 20 Brahmananda Public School on August 23, 2023 in Noida, India. Perhaps the most remarkable aspect of India's moon landing is the shoestring budget — by government standards — with which the country achieved the mission.
Persons: Jonathan McDowell, Sunil Ghosh, Jim Bridenstine, Bridenstine, They've, who's Organizations: ISRO, Soviet Union's, Harvard - Smithsonian Center for Astrophysics, Gravity, India, School, Hindustan Times, NASA, CNBC, Indian Space Research Organization, U.S, Payload Services, Space Foundation Locations: China, India, Israel, Japan, Russia, Noida, U.S, India's, United States
Morgan Stanley upgraded Indian stocks to "overweight" from "equal weight," citing a strong profit outlook and the country's attractiveness to investors in a "multipolar world." India's situation is in "stark contrast to that in China," the bank said in its Aug. 2 note. Morgan Stanley downgraded Chinese stocks to equal weight in the same note. Stock picks While Indian stock valuations "overshot somewhat" last October, it's "less extreme" now, Morgan Stanley said. Morgan Stanley added two Indian stocks to its focus list: Maruti Suzuki : Morgan Stanley said the automaker is set to benefit from a higher per-capita income in India; an expansion in market share; and an improving product mix.
Persons: Morgan Stanley, capex, Maruti Suzuki, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Maruti, ICICI Bank, Hindustan Aeronautics Locations: China, India, Saudi Arabia
Violence erupted in the northern state of Harayana state on Monday after a right-wing Hindu organization led a religious procession in the Muslim dominated region of Nuh. However, opposition politicians and activists have called the attack a “hate crime” that targeted India’s Muslim minority population. Increase in hate crimesThe latest communal violence come against a broader rise in hate crimes against minority groups. Last month, the BJP chief minister of the state of Assam, Himanta Biswa Sarma, blamed Muslims for the soaring prices of tomatoes. Some cities named after historic Muslim figures have also been renamed to reflect India’s Hindu history.
Persons: Parveen Kumar, Narendra, Modi, Yogi, Asgar Ali, Mohammed, Ali, haven’t, Police haven’t, Asaduddin, , Jairam Ramesh, ” Asim Ali, Deepankar Basu, Himanta Biswa Sarma, Barack Obama, “ Hussain Obama ”, Obama, Adityanath, Donald Trump’s, Rana Ayyub Organizations: New Delhi CNN, Extra, Hindustan Times, Haryana Police, CNN, ” Police, Police, Bharatiya Janata Party, BJP, Dal, NDTV Locations: New Delhi, India, Harayana, Nuh, Gurgaon, Gurugram’s, Maharashtra, Mumbai, Haryana, Nuh Chowk, Gurugram, Hindustan, Delhi, Manipur, Assam, Uttar Pradesh, today’s India
In the early hours of Monday, on a train bound for Mumbai, India’s commercial capital, a police officer took up his service rifle, fatally shot his superior and then killed three unarmed passengers. All three of the passengers were Muslim men, according to Indian news reports. The violence occurred on the same day as a march led by a Hindu nationalist organization in one of the few northern Indian districts in which Muslims are a majority. The rally, which a Hindu vigilante wanted in the murders of several Muslims had promised to join, dissolved into street fighting, which then gave way to a full-blown riot that spread toward Delhi. As shops, vehicles and a mosque were set ablaze, at least five people were killed, including the mosque’s junior imam, the police said.
Persons: Chetan Singh, Modi, Yogi, Narendra Modi, Yogi Adityanath, Modi’s, , Washington — Organizations: Mr, State Department Locations: Mumbai, Hindustan, South Asia, Delhi, India, New Delhi, Paris, Washington
They travel to Europe to prominent World War II sites, where their love for one another deepens. And we want what others have.”In another scene in the film, she says: “Every relationship goes through their Auschwitz”. The dialogue and plot has sparked outrage with the SWC calling on the Amazon Prime to stop monetizing the film. Tiwari, Kapoor and Dhawan have not publicly addressed the SWC statement. Dhawan said he respected everyone’s opinion, adding that critics are harder on Hindi movies and give more leeway to Western films.
Persons: New Delhi CNN —, Simon Wiesenthal, Nitesh Tiwari, Janhvi Kapoor, Varun Dhawan, Kapoor, We’re, Adolf Hilter’s Nazi, Dean, Rabbi Abraham Cooper, “ Nitesh Tiwari, India’s, Shantanu Das, , Tiwari, Dhawan, , ” Kapoor Organizations: New, New Delhi CNN, Simon Wiesenthal Center, Amazon Prime, Nazi, SWC, Prime, Global, CNN, Hindustan Times, Locations: New Delhi, Indian, Europe, India
But despite previous personality clashes and power ambitions, the 26 opposition leaders appear unified in one goal: to overturn Modi. India's opposition leaders announce their alliance in Bengaluru, India, July 18, 2023. APGathering of important partiesCoined to evoke a sense of nationalism ahead of the 2024 general election, the INDIA alliance in a statement last week emphasized its goal of upholding the country’s democratic institutions. Modi described the INDIA alliance as a “hardcore corruption convention,” adding the BJP was on course to clinch another victory in 2024. Sanchit Khanna/Hindustan Times/Getty ImagesNo clear leaderWhile the BJP can bank on the popularity of Modi, the INDIA alliance has not yet put forward a leader to challenge him next year.
Persons: Narendra Modi, Modi, Indira Gandhi, Rahul Gandhi, , Niranjan Sahoo, PM Modi, tabling, , Gilles Verniers, Sahoo, ” Sahoo, ” Rahul Gandhi, Sanchit Khanna, Gandhi, India’s, INIDA, shivers Organizations: New, New Delhi CNN, Developmental Inclusive Alliance, Bharatiya Janata Party, BJP, INDIA, Indian National Congress, Analysts, PM Modi’s BJP, New Delhi’s Observer Research Foundation, PM, Samajwadi Party, Aam Admi Party, Ashoka University and Co, Trivedi, Political, Congress, Ashoka University, Hindustan Times, Modi, Observer Research Foundation Locations: New Delhi, India, INDIA, Bengaluru, BJP, restive, Manipur, West Bengal, India’s, Uttar Pradesh, Delhi, Lok, Karnataka
There is no suggestion the trades break sanctions, although they may make it difficult for sanctions enforcement agencies in Europe and the United States to track Russian oil transactions and prices. The new trading network and practices raise financial risks for Russian oil companies dealing with unknown entities with limited credit history. "We recognise that (sanctions on Russia are) going to change the shape and structure of the Russian oil markets," the official told reporters. In May, Russian seaborne oil supplies to India, which was a rare buyer of Russian oil before the war, reached a record of 1.95 million bpd while China imported 2.29 million bpd. A source with one major Russian oil company said his company was prepared to deal with higher credit risks from buyers for the sake of having stable and rising oil exports.
Persons: Russia's, Rosneft, Everest, Coral, Washington, Lukoil, Dmitry Zhdannikov, Nidhi Verma, Timothy Gardner, Laura Sanicola, Simon Webb, Frank Jack Daniel Our Organizations: NEW, Liberian, Reuters, Shell, Group, European Union, Bellatrix Energy, Leopard, Guron, SEA, Coral Energy, Everest Energy, U.S . Treasury, EU, UK, Treasury, UAE dirham, Shipping, Hindustan Petroleum, Gazprom Neft, Covart Energy, Orion Energy, Media, Rosneft, Nidhi, Thomson Locations: Russia, Ukraine MOSCOW, NEW DELHI, Russia's Ust, Hong Kong, India, Moscow, Asia, Ukraine, Refinitiv, Europe, United States, Australia, China, U.S, UAE, Dubai, Visakhapatnam, Surgutneftegaz, Russian, Geneva, Singapore, Rosneft, Venezuela, MOSCOW, LONDON, Washington, New York
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