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ANIRussian envoy Denis Alipov Russia has proved its reliability to India as a solid partner for crude oil supplies, offering best price and quality options, the country's ambassador to India Denis Alipov has said.In an exclusive interview with ET, Alipov said both countries are committed to finding a way out amid unilateral sanctions on Russian oil companies."Russia has recently become a major supplier of crude oil to the Indian market, ensuring more than one-third of India's imports, and proved its reliability as a solid partner capable of offering best price and quality options," Alipov said."Our dynamic engagements meet both India's requirements and significantly contribute to its power potential despite numerous attempts to derail our partnership in the past. So, we are obviously committed to finding a new way out. Eventually we are positive that the bilateral energy dialogue will continue for the benefit of the people of our friendly nations."The comments assume significance amid US President Donald Trump's repeated claim that India has drastically reduced imports of Russian oil. The Trump administration has sanctioned two Russian energy majors Rosneft and Lukoil for, what they claim, contributing to the Russian war chest.Live EventsWhen asked about the impact of sanctions on India-Russia ties, Alipov said, "Illegitimate unilateral sanctions hinder economic development, affect ordinary citizens and lead to the destruction of supply chains. India has not officially joined the western restrictions, however, many local companies, primarily focused on the European and North American markets, are very cautious to openly cooperate with Russian partners".The senior diplomat informed that to make bilateral economic cooperation more secure and independent, both sides are constantly working to improve the system of mutual settlements in national and alternative currencies with its share exceeding 90%. To ensure smooth flow of goods, much attention is being paid to the development of alternative transport and logistics routes.The Russian envoy also referred to the robust defence partnership, which has been the backbone of ties for decades, and elaborated on the new projects under discussion."We are discussing drones and anti-drone systems, advanced radar ship and engine building, missile and torpedo armament, underwater platforms and other force multipliers. Importantly, this cooperation is unique as it also emanates from our own battleground experience that we eagerly share with the Indian partners."Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onIndia Russia energy partnershipRussian oil supplies to Indiabilateral energy dialoguesanctions impact on India Russia tiesmutual settlements in national currenciesIndia crude oil imports (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onIndia Russia energy partnershipRussian oil supplies to Indiabilateral energy dialoguesanctions impact on India Russia tiesmutual settlements in national currenciesIndia crude oil imports(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories
