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GAIL launch to purchasing Russian oil and gas assets

Byindianadmin

May 28, 2022
GAIL launch to purchasing Russian oil and gas assets

Unlike varied contributors of the Quad worldwide locations, India has now not imposed sanctions on Russia

Unlike varied contributors of the Quad worldwide locations, India has now not imposed sanctions on Russia

India’s greatest gas transmitter GAIL is launch to purchasing Russian oil and gas assets shunned by Western corporations after Moscow’s invasion of Ukraine if the deal made commercial sense, the company’s Chairman Manoj Jain said on Friday.

European worldwide locations and the US occupy imposed heavy sanctions on Russia since Moscow despatched troops into Ukraine on February 24 and the EU has proposed its toughest package of punishments yet, along side a ban on crude oil in six months.

India has tried to steadiness its ties with Russia and the West nonetheless unlike varied contributors of the Quad worldwide locations — the US, Japan and Australia — it has now not imposed sanctions on Russia.

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“Why would any person teach no [to Russian assets] if it makes commercial sense,” Mr. Jain knowledgeable newshounds at submit-earnings press convention. GAIL reported a 39% upward push in quarterly profit.

GAIL is brooding about shopping gas from now not easy local fields to handle surging local set up a query to for pure gas, along side inserting long-term liquefied pure gas (LNG) import deals with world corporations.

Mr. Jain said GAIL is scouting for
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