By bno Chennai bureau India’s energy security remains steady despite new US sanctions targeting Russia, Indian Oil Corporation (IOC) Chairman Arvinder Singh Sahney said during an interview with ANI at the World Economic Forum in Davos.

Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.India is considering a $450 million deal to sell Russian-backed supersonic cruise missiles to Indonesia as the Southeast Asian country looks to bolster defenses,

Since the Ukraine war, India has become the second largest buyer of Russian crude oil, owing to the hefty discount Russia offered to bypass sanctions. Prior to the war, India secured most of its oil from the Middle East, with Russia not even featuring among India’s top 20 partners.

India's state-run refiner Bharat Petroleum Corp sees its Russian oil processing down to 20% in March from 31% this month as it awaits offers from traders, its head of finance Vetsa Ramakrishna Gupta told an analyst call on Thursday.

Following Russia's invasion of Ukraine in 2022, India became a major buyer of Russian crude oil that was widely sanctioned by the West. That may be about to change.

Russia also accounts for about 65% of India’s arms imports over the past 20-odd years. Besides, they argued, India needs to nurture the relationship to offset warming ties between Russia and China, India’s chief rival.

Global media also traces Air India's 'corporate turnaround story in sync with India’s triumphalist narrative'. But it isn't in the clear yet; losses & scepticism may be holding it back.

India has allowed Russian insurer Soglasie Insurance Company to provide marine cover to tankers entering Indian ports, according to Indian ship regulator's website, as New Delhi wants steady supply of cheaper Russian oil despite latest U.

The wide-ranging sanctions imposed by the US on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd (BPCL) saying not enough cargoes are available for March.

Petroleum Minister Hardeep Singh Puri on Tuesday (21 January) emphasised the “potent possibility” of more American oil entering Indian markets, as India—one of the world’s top consumers and importers of crude—remains open to additional global supply.

Crude oil purchases by Indian Oil Corp. may shift as the new US sanctions on Russia affect supplies from Moscow, pushing the South Asian country’s biggest refiner to seek alternatives.

Directorate General of Shipping authorized Soglasie Insurance Co. to provide insurance for vessels entering Indian ports until February 2026