Monday, August 8, 2022

Indian cement company to import 1,57,000 tonnes Russian coal

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After the Indian government’s import of cheap oil from Russia an Indian cement company has decided to buy coal from Russia, ARY News reported.

According to details, India’s biggest cement company, Ultratech has decided to import coal from Russia. The company will import 1,57,000 tonnes of coal from western sanction-hit Russia, Indian media told.

The cement giant would pay a total of 170 million Yen to Russia. Earlier, India had imported cheap oil from Russia despite American pressure and western sanctions on Russia.

On June 14, Russia had become India’s second-biggest oil supplier, pushing Saudi Arabia to the third position.

According to details, India received about 819,000 barrels per day (bpd) of oil from Russia. Which is the higher thus far, compared to 277,00 in April, the data showed.

Many importers shun trade with western sanctions-hit Russia after its invasion of Ukraine which resulted in a drastic drop in Russian crude.

Meanwhile, PTI Cheif Imran Khan had said that India is providing its citizens with 40% cheaper Russian imported oil while our government has increased the prices by Rs84.

Also ReadRussia becomes India’s second-biggest oil exporter

The former Premier said that they were planning to purchase cheaper oil and wheat from Russia but they were ousted by an American conspiracy. It would have been easier for me to not go to Russia, but I went there in the interest of my people, he added.

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