Vikrant Shekhawat : Aug 24, 2024, 10:20 AM
Russia-Ukraine War: Efforts are being made globally to resolve the ongoing war between Russia and Ukraine, which has been going on since February 2022. Last month, Indian Prime Minister Narendra Modi visited Russia and met President Putin. Now, Prime Minister Modi visited Ukraine and also met President Volodymyr Zelensky. Modi advised both countries to adopt the path of peace and India is ready to provide all possible help in this direction.Ukrainian President Zelensky on Friday said that if other countries of the world, including India, stop buying oil from Russia at concessional rates, it could pose major economic challenges to Putin. He said that since the invasion of Ukraine, India has increased its purchase of oil from Russia, which now accounts for about 40 percent of India's total oil imports. Western countries have criticized India's move, as India's oil imports from Russia were very low before the start of the Ukraine war.Zelensky stressed that Putin's economy is mainly dependent on oil and if oil sales decrease, it will have a serious impact on Russia's economic situation. He said that Putin is proud of Russia's energy-based economy, and Russia will face big challenges if the countries of the world stop buying oil.If the countries of the world stop buying oilAfter meeting PM Modi, Ukrainian President Volodymyr Zelensky said on Friday that if other countries of the world, including India, stop buying oil from Russia at discounted prices, then Putin will face "big challenges". India is buying oil from Russia despite sanctions imposed after the invasion of Ukraine in February 2022, which has been criticized by Western countries. India used to import less than one percent of oil from Russia before the Ukraine war started, which has now increased to about 40 percent of India's total oil imports.Putin is proud of Russia's oilPointing to important contracts between India and Russia in terms of oil, Zelensky said on Friday, "Putin is afraid of the economy getting ruined, he has nothing but oil, his main currency is oil and he is proud of that. Zelensky said that he has a kind of energy-based economy, and he exports that only." He said that if other countries of the world including India stop buying oil from Russia at discounted prices, then "big challenges" will arise in front of it.