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India, Russia in talks on using rupees to pay for oil — Indian official

Pankaj Jain also added that India and Russia use different currencies when paying for oil supplies

ABU DHABI, October 2. /TASS/. India and Russia do not yet use rupees for oil transactions, as negotiations in this direction are ongoing, Secretary of the Ministry of Petroleum and Natural Gas of India Pankaj Jain told reporters on the sidelines of the ADIPEC oil and gas exhibition.

"This is a conversation we are still having. It’s not yet completed," he said.

Responding to a clarification question from TASS as to whether the Indian currency is used when buying oil from Russia he said: "Not Indian [currency] so far."

Jain also added that India and Russia use different currencies when paying for oil supplies.

The official did not comment on what volumes of oil India plans to purchase from Russia in 2023. "We can’t predict that. I don’t buy oil, my companies do," he said.

In September, Indian Ambassador to Russia Pawan Kapoor denied reports that large amounts of rupees are being hoarded in Russia due to the fact that the Indian side pays for Russian oil purchases in rupees. He noted that this was due to an imbalance in bilateral trade.

Earlier, Russia’s Energy Ministry denied the words of economist Mikhail Zadornov that rupees stuck in accounts could be one of the reasons for the weakening of the ruble. The ministry told TASS that this opinion does not reflect the real situation, since oil companies return most of the foreign currency earnings, and the delays are not systemic.

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Here are the key points about the strikes on Ukrainian military-industrial facilities

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Elite units of Syrian troops deployed to Aleppo to defeat gangs — newspaper

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Hungarian PM’s office rules out his trip to Moscow for 80th anniversary of Victory

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Rosneft produced 193.4 mln tons of hydrocarbons in 9M 2024 — company

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Aeroflot reports difficulties with purchases, returns of tickets

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West refuses to accept proof of Ukraine’s use of chemical weapons — Russian envoy

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Russia sees no need to downgrade relations with Poland, ambassador says

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Kiev opposes Washington's demand for lowering draft age — media

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Paris grants Netanyahu immunity for Lebanon ceasefire role, French magazine says

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Top stories from the Russian press on Friday, November 29th

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Western analysts describe Russia's Oreshnik as longest-range weapon ever used in Europe

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Putin believes that US President-elect Trump’s life may be in danger

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Putin approves purchase of Russian Elevator Company from French grain trader Louis Dreyfus

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Ukraine demolishes buildings with soldiers inside as Russian forces advance — DPR leader

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Belarusian President Lukashenko points to 'NATOfication' of Europe, entire world

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Design of super-heavy rocket to be finalized based on new technologies — Roscosmos

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Russia ready for talks with Ukraine on conditions proposed in June — Putin

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