By Eliza Popova
Video Day Imports of Russian Oil to India have increased to 12-13% in the total import of the country. In February, it was approximately 2%. India's finance minister Nurchaman said that the Prime Minister of Narendra Modi deserves a praise for balancing trade and other relations with different countries.
"I pay tribute to the state wisdom of the Prime Minister, who on a global scale made sure that we have kept relations with all countries, but still managed to get Russian fuel that Japan is doing today, which some other countries do," the head said India's Ministry of Finance. Retail prices in India in July were 6. 71% higher than a year earlier.
Although the annual inflation rate has decreased within three months, it has exceeded the permissible central bank range from 2 to 6%for the seventh month in a row. It is noted that, despite the pressure of the West, India did not condemn the February invasion of Russia into Ukraine, calling for a diplomatic settlement of the crisis. For years, the Russian Federation has been the largest supplier of defense equipment to India.
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