On the sidelines of the Sixth Russian Energy Week, Akashdeep Singh, president of the Indian Business Council, commented to Sputnik India on the deep and mutually beneficial relations that exist between Russia and India in the energy sphere.
Singh noted the strong bond of friendship between India and Russia, as well as efforts to solidify relations further.
"India and Russia have traditionally been very, very close friends, and with the present situation in the energy world, India has consolidated this relationship with Russia"
He also acknowledged the increasing significance of energy security in a rapidly evolving geopolitical landscape and emphasised Russia's vital role in this domain.
"Energy is becoming more important considering the geopolitical situation, and Russia has a very big role to play here,"
In recent months, India has significantly bolstered its collaboration with Russia on all sorts of economic questions. The share of Russian oil in India's imports continues to grow, and the share from other oil-exporting countries is in decline.
India and Russia are developing potential trade routes along Russian shores, which offer new chances for trading energy resources and improving global trade and energy security.
At present productive discussions are taking place with regard to the gradual mutual de-dollarisation of oil trade between Russia and India.