India and Russia Verbally Agree to Resume Direct Russian LNG Sales
Additional talks are underway to increase Russian crude oil supplies to India, which could account for 40% of the country’s total imports according to the source text.
Summary
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Terms & Concepts
LNG: Liquefied natural gas, a supercooled form of natural gas that is easier to store and transport by ship.
Crude oil imports: Purchases of unrefined petroleum from foreign suppliers for domestic refining and energy use.