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In the midst of worsening relations with the US and the European Union, Russia is looking for newer energy markets
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On Tuesday, Russia made headlines by signing a five-year memorandum of understanding (MoU) with Iran which included an agreement to help Tehran sell crude oil. Interestingly, minutes after the announcement, the Russian energy minister withdrew his statement on the “deal" without assigning any reasons. While a new statement is awaited, the possible deal can be a reality check for India. The Russia-Iran MoU comes three months after Russia signed a $400 billion deal to supply natural gas to China. In the midst of worsening relations with the US and the European Union, Russia is looking for newer energy markets. It is no surprise that the countries Russia is engaging with happen to be anti-American in their outlook. While India supported US sanctions on Tehran and reduced Iranian oil imports, it has been against excessive sanctions against Russia. Changing compulsions of energy geopolitics require that India reassess countries it is seen supporting.
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