MOSCOW: There has been several indications which shows that Russia's two-week-long invasion of Ukraine is affecting the country. Putin's uncompromising stance has made it a little harder for Russia. As various sanctions of US and UK are struggling Russia, there has been information that the country is making huge discounts to sell oil, their main source of income. As the fuel and oil prices have been lowered, India can now buy oil for lower prices.

United States, Britain and other European countries were initially unwilling to impose sanctions against Russia because they thought that it would rise global oil prices as Russia is Europe's major oil supplier. But as Russia refused to end its invasion on Ukraine, US banned oil imports to create a crisis for Russia. Britain has announced that it will go one step further and form a global coalition against Russia. This is an attempt to end Russia's intervention in Europe's oil market.

The fuel supplied by Russia was used by European countries for electricity and industrial purposes. Russia also supplies 40 percent of Europe's fuel. As these countries do not buy fuel, Russia is forced to send oil to India and China at lower prices. Russia has called for continued cooperation in trade and investment from its allies.

India normally imports about 80 per cent of its fuel consumption. Of this, only two to three percent is purchased from Russia. The central government is trying to limit oil prices as fuel prices have increased by 40 per cent so far this year.

At the same time, United States has made it clear that India's purchase of fuel from Russia will not affect sanctions. Earlier, Union Minister Hardeep Singh Puri had said that the government would take necessary steps to provide relief to the people from rising oil prices.