International News : A Smaller Country Than Maharashtra Becomes India's Savior, A Blow to America
India has taken a significant step towards reducing its dependence on Russian oil. Amid global political tensions and rising prices, India is now focusing on sourcing oil from various countries. As part of these efforts, a country smaller than Maharashtra has provided crucial support to India.
India has purchased crude oil from the country of Ecuador in South America. A government oil company has conducted a transaction of 2 million barrels of oil, and there is a possibility of further purchases in the future. This decision is considered important to fill the gap created by the reduced supply of Russian oil.
The sanctions imposed on Russia by America and Europe have affected India's oil imports. As a result, India is now looking beyond the Gulf countries and turning towards South American countries. Along with Mexico, Brazil, and Colombia, Ecuador has now joined India's list. Ecuador, which is smaller than Maharashtra in terms of area, population, and economy, is proving to be useful for India in terms of energy security today. By making agreements with various countries, it is clear from this transaction that India is reducing its oil supply risk.
In Brief
India took a major step to reduce its dependence on Russian oil.
Amid global political tensions and rising oil prices, India is now focusing on purchasing oil from various countries.
As part of these efforts, a country smaller than Maharashtra has given significant support to India.
An important milestone in India's energy security policy.
India's new oil purchasing strategy is a topic of discussion in the global market.