India And Russia Sign Energy And Defense Deals Worth Billions - News Summed Up

India And Russia Sign Energy And Defense Deals Worth Billions


GOA, India, Oct 15 (Reuters) - India and Russia signed billions of dollars of defense and energy deals on Saturday at a summit that sought to inject new life into a relationship that has been tested by shifting global alliances and conflict in the Middle East. Under the biggest agreement, a group led by Russian state oil major Rosneft said it would pay $12.9 billion for a controlling stake in both India’s Essar Oil and port facilities that it owns. The countries, which had strong ties during the Cold War, announced plans for a joint venture to build helicopters in India. Modi also praised Putin’s support for the fight against international terrorism, which India accuses its neighbor and rival Pakistan of sponsoring. “Russia’s clear stand on the need to combat terrorism mirrors our own,” Modi said.


Source: Huffington Post October 15, 2016 11:15 UTC



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