What Russia said about oil sales to ‘friendly’ India is surprising…

Russian Deputy PM Novak emphasizes the need to increase energy exports to "friendly" nations; 42% of Russia's federal budget in 2022 came from energy revenues.

Published on: Mar 28, 2023, 13:37:38 IST

ReutersPosted by Animesh Chaturvedi

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Russian Deputy Prime Minister Alexander Novak said on Tuesday that Russia needed to focus on boosting energy exports to so-called "friendly" countries, as he said Russian oil supplies to India jumped 22-fold last year.

Need to focus on boosting energy exports: Alexander Novak, Russia's deputy prime minister, speaks. (Bloomberg)

Also Read: 'Comfortable with New Delhi buying Russia oil, ties with India most consequential': US officials

Novak said energy revenues accounted for 42% of Russia's federal budget in 2022 and said the country's energy industry was sustainable, despite the challenges faced by Western sanctions.