In this video, OneIndia's Pankaj Mishra interviews Ravi Srivastava, Former Chief Manager at HPCL, to explore the geopolitical dynamics driving global oil prices. The discussion focuses on India’s diplomatic efforts, particularly with Russia, to stabilize oil imports during global crises and their influence on inflation. Srivastava sheds light on the oil industry, fuel subsidies, and the Modi government’s approach to balancing price stability with broader economic challenges.
#OilPrices #IndiaRussiaRelations #FuelSubsidies #GlobalEnergyCrisis, #PM Modi
#OilPrices #IndiaRussiaRelations #FuelSubsidies #GlobalEnergyCrisis, #PM Modi
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00:00Talking about how Prime Minister Modi's diplomacy has helped in order to bring the economy or at
00:07least keep the economy on track as far as the procurement of oil from Russia was concerned.
00:13In your opinion, do you think that this is a victory for Modi's diplomacy and in times of war
00:21when everything is going sky high, Prime Minister Modi has managed to at least give those subsidies
00:28on oil or other products and keep the prices under check no matter it is becoming costly
00:34in the global market? Pankaj ji, I would definitely put a good word as far as Mr.
00:40Modi's diplomacy is concerned. He has been talking to USSR. He has been visiting over there. He has
00:46been having a direct interaction with them. And as far as the foreign minister is concerned,
00:51he has also been talking to them. So I think the government has done a reasonably good job
00:58as far as the import of crude oil from Russia is concerned. And I think during this situation,
01:06if this continues, India will be definitely benefited. The best part would have been had
01:12they accepted the payment of the crude oil in the rupee terms instead of ruble or dollar.
01:18I think that would have been a real big benefit for India. But this is all Pankaj ji coming at a,
01:26you know, diplomacy is such a thing that you make the good relations with one person,
01:32the other person naturally gets annoyed. Your dependence on Russia is not seen very favorably
01:41as far as the American bloc is concerned or the Middle East is concerned. So these things have
01:47got their own price. But what Mr. Modi has done has done in the interest of his nation, his country
01:54to get a cheaper crude oil and benefit the citizens at large.