ShyamSP wrote:khan wrote:The bottom-line is Russia is no longer India’s reliable partner in the UN, they are just allies of convenience. Indian diplomats will obviously try to downplay any rifts because they understandably don’t want to highlight this & show weakness, but this sudden hesitation by the Russians is a reality & needs to be factored in by strategic minds.
India with limited vision both militarily and economically in regions from Russia to Delhi makes the other powers to look into their own needs. India should engage in at least economic activity such as gas/oil pipelines, high ways, etc from Russia and other *stans and play to reduce great game in that area by providing some military guarantees for economic activity. Congress flunked India but at least new India now expand with open vision in that region.
Modi allowed the russians, by virtually blocking the saudis, to purchase a huge oil refinery in India in a deal that included retail outlets thus giving them direct access to the Indian market and the Indian consumer. They can bring in their oil if they wish.
How Modi, Putin saved a $13 billion deal Essar signed with Russian oil giant
Involvement of Russian President Vladimir Putin and Prime Minister Narendra Modi have salvaged a deal between Essar and Rosneft after Saudi Arabia firm weighed in.
multi-billion-dollar Russian deal to buy Indian refiner Essar was nearly sunk at the eleventh hour by a rival bid from Saudi Arabia as the two oil superpowers vie for supremacy across the world.
The deal between Essar and a consortium led by Kremlin oil giant Rosneft appeared dead in the water two months ago after Saudi state energy firm Aramco weighed in, according to seven Russia, India and Saudi-based industry sources familiar with or involved in the negotiations.
It was salvaged due to the involvement of Russian President Vladimir Putin and Prime Minister Narendra Modi, who were keen for it go through, and after the consortium agreed to pay $13 billion - more than double what Rosneft had initially valued Essar at, sources told Reuters.
This made the refiner the biggest-ever foreign acquisition in India and Russia's largest outbound deal.
The tussle for Essar - a state-of-the-art plant in the world's fastest-growing fuel market - illustrates the growing battle for oil markets between Russia and Saudi Arabia, the world's two largest crude exporters.