India returns to purchasing Russian gas: what is known

India plans to resume direct purchases of liquefied natural gas from Russia for the first time since the start of the full-scale war in Ukraine.

Reuters reports this.

According to the agency, a preliminary agreement to start negotiations was reached on March 19 during a meeting between Russian Deputy Energy Minister Pavel Sorokin and Indian Oil and Gas Minister Hardeep Singh Puri in Delhi.

Reuters sources say the talks could be concluded within weeks if India decides to strike a deal, despite the risks of violating Western sanctions.

The parties also discussed increasing supplies of Russian oil. Sources said the volume could double to at least 40% of India’s imports.

Since the start of the full-scale war, India has not purchased LNG from Russia, but after the reduction in supplies to Europe, India and China have become key buyers of Russian energy.

Internal Indian government documents reviewed by the agency indicate that reducing purchases of Russian oil under US pressure could have a negative impact on the economic situation.

It was previously reported that Southeast Asian countries have increased their purchases of Russian oil amid limited supply and changes in global energy flows.

Recall that rising prices and easing sanctions against Russia led to an increase in the Kremlin’s revenues from oil sales.