Ban on gold imports, tightening export controls: EU moves closer to imposing more sanctions on Russia
If no objections are raised by national capitals by early Thursday, it will be published in the official journal, after which details of the limited package will become available.
The RBI had, through its notification, authorised Indian banks to open Vostro accounts in a foreign partner bank where payments for imports could be made in rupees.
The continent relies on Russian natural gas, and higher energy prices are flowing through to factories, food costs and fuel tanks.
High inflation driven by high energy prices and a drop in the US GDP by 1.4% is other worrying signs.
In another show of western support, British Prime Minister Boris Johnson met with President Volodymyr Zelenskyy in Kyiv to offer continued aid and military training.
In the year 2021, the European Union imported roughly 40% of its gas from Russia, making it difficult for the EU to impose sanctions on Russia over its ongoing conflict with Ukraine.
OVL has a 20 per cent stake in Sakhalin-1 which is operated by ExxonMobil's Russian subsidiary, however, Exxon announced its exit from the project following Russia's invasion of Ukraine.
Present-day Russia's mission is to "get back and strengthen" its sovereignty and territories, said President Vladimir Putin.
Detention of Russia's Aeroflot aircraft in Colombo is private legal issue: Sri Lankan PM Wickremesinghe
The flight, scheduled to depart from Colombo's Bandaranaike International Airport to Moscow as not allowed to depart due to an enjoining order issued by the Commercial High Court of Colombo.
Envoys from the 27 member states were meeting in an attempt to finalise a sixth package of sanctions against Moscow, but remain deadlocked over a proposed embargo on Russian oil.
Russia previously has offered natural gas customers to establish an account in dollars or euros at Gazprombank, then a second account in rubles.
According to Lavrov, US 'and its satellites are doubling, tripling, quadrupling their efforts to contain our country'.
The world's third-biggest oil-consuming and importing nation has in recent weeks snapped few cargoes available from Russia at deep discounts as part of its plans to diversify its import basket.
Putin said that Russia's economy and financial system withstood the impact of what he called the Western sanctions 'blitz'.
Jaishankar said India has made a number of statements (on Russia-Ukraine war) which outline its position in the United Nations, in Indian Parliament, and in other forums.
It said it didn't expect Russia to be able to convert the rubles into dollars within the 30-day grace period allowed.
According to Moscow, Duma-TV has more than 145,000 subscribers. It airs clips of parliamentary debates and interviews of Russian lawmakers.
There has been some disquiet in Washington over India's position on the Ukraine crisis as well as its decision to procure discounted Russian oil.
'No formal rupee-rouble payment platform in place yet': RBI says sensitive to economic sanctions on Russia
Any such payment mechanism involving rupee and rouble payments for imports and exports would help circumvent the sweeping economic sanctions imposed on Russia by the western nations.
The coal ban, which is expected to be approved in a new package of sanctions this week, would cost Russia $4 billion a year, said the European Commission, the EU's executive arm.