logo
Russia in dialogue with authorities of many countries on flights resumption

Russia in dialogue with authorities of many countries on flights resumption

Moscow, May 19 (UNI) The Russian Federal Air Transport Agency (Rosaviatsiya) is in dialogue with the aviation authorities of many countries regarding the resumption of flights, the head of the agency, Dmitry Yadrov, told reporters on the sidelines of the HeliRussia 2025 forum.
On May 14, following a meeting of BRICS transport ministers, the Russian Transport Ministry announced that Russia was ready to expand air traffic with the BRICS countries and open new flight routes.
"Joint work with the Ministry of Foreign Affairs, the Ministry of Transport, and the Ministry of Economic Development on the development of international air traffic is ongoing. We are in dialogue with the aviation authorities of many countries. Many countries that have suspended flights are ready to resume them," Yadrov said.
There are currently countries where Russian airlines are ready to fly, he added.
"But we need guarantees that, for example, the servicing of aircraft from Russia will not be subject to restrictions that have arisen due to sanctions," Yadrov clarified.
UNI SPUTNIK GNK
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Will explore more, no compromise on farmers' interests: Shivraj on tariffs
Will explore more, no compromise on farmers' interests: Shivraj on tariffs

Business Standard

time21 minutes ago

  • Business Standard

Will explore more, no compromise on farmers' interests: Shivraj on tariffs

Union Agriculture Minister Shivraj Singh Chouhan on Tuesday lauded Prime Minister Narendra Modi for his determination to protect the interests of farmers in the wake of tariff pressures and said it has been decided that there will be no compromise with the interests of the farming community. Speaking at an event in Subrahmanyam Hall in New Delhi, Chouhan emphasised that India's population is its strength and the country will also find new markets. In a veiled reference to the United States imposing 50 per cent tariff on India and apparent pressure in trade talks for greater access to India's agriculture and dairy sectors, Chouhan said there is vast difference in the size of landholdings and agricultural practices and cost of production in the two countries. "The whole country was apprehensive, know how much land they hold: 10,000 hectares, 15,000 hectares. Meanwhile, our farmers have land ranging from one acre to three acres, with many having just half an acre. We have a little land. Is this competition fair? You use GM seeds. There are different kinds of perceptions about our GM. The whole country was apprehensive, what will happen? They want their soybean to come here, their wheat, maize, rice," the Agriculture Minister said. "The cost of production per hectare is less there because GM seeds and other things are used, so the yield is more and the cost is less. The cost of production per hectare here is much higher than there, and if it had come openly, the prices of the crops here would have fallen further in our country. Where would the farmer go? Therefore, it was decided that no matter what happens, there will be no compromise with the interests of the farmer," he added. Chouhan referred to PM Modi's remarks that no matter how much loss he personally incurs, there will be no compromise with interests of farmers. "Prime Minister Narendra Modi said recently that no matter how much loss I personally incur, but the interests of farmers will not be compromised. This is the voice of India, voice of brothers, be assured. If there is some difficutly, we will see. We will find new markets, and India itself is such a big market that our things will be consumed here. The population of the whole of Europe is 50 crore, America's is 30 crore, our population of 144 crore is not our weakness; it is our strength. That is why this decision was taken. It is also testing time, we don't have budge, bow..." Chouhan said. US imposed 25 per cent reciprocal tariffs on Indian goods last month and increased it to 50 per cent over import of Russian oil. Chouhan also spoke of the government's determination to provide more resources to agriculture. Chouhan also dismissed nuclear sabre-rattling by Pakistan Army Chief Asim Munir and said India has decided to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. "Today, as a farmer, I want to congratulate our Prime Minister Narendra Modi, I want to thank him. The first thing is the Indus Water Treaty. Now the neighbour is giving threats from America. India is not going to be afraid of any threat. The whole world should hear that the Indus Treaty has been cancelled, and our water will be used for the farmers. This is Modi ji's decision. Such an unjust treaty, the rivers, land, water are ours and the canal will be built in Pakistan. We gave 80% of the water, and Nehru ji also gave money to build the canal there; this was a sin. Now this will not be allowed at any cost; our water will be used for our own purposes," Chouhan said. Referring to Pakistan's support for cross-border terrorism against India, Chouhan said PM Modi has made it clear that "blood and water cannot flow together". He said the government would soon bring in a new law to take strict action against those producing fake fertilisers and chemicals. He said various schemes for farmers' welfare are being advanced on priority and digital payment of insurance amounts was made to farmers on Monday from Jhunjhunu in Rajasthan under the Pradhan Mantri Fasal Bima Yojana. The Union Minister highlighted PM Modi's 'Nation First' resolve and emphasized that the Prime Minister has always taken strong, bold, nation-centric decisions, for which the country will forever remain indebted.

Oil prices little changed as industry report points to slowing US demand
Oil prices little changed as industry report points to slowing US demand

Time of India

time24 minutes ago

  • Time of India

Oil prices little changed as industry report points to slowing US demand

Oil prices were little changed on Wednesday after falling in the previous session after an industry report showed U.S. crude stockpiles climbed last week illustrating the end of the seasonal summer demand period is nearing. Brent crude futures gained 3 cents to 66.15 a barrel at 0102 GMT after dropping 0.8% in the previous session. U.S. West Texas Intermediate crude futures fell 3 cents to $63.14 after declining 1.2%. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A Teaspoon Before Bed Burns Body Fat - Fit Into Your Clothes Again! gofitlifeguide Click Here Undo Crude inventories in the U.S., the world's biggest oil consumer, rose by 1.52 million barrels last week, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories dropped while distillate inventories gained slightly. [API/S] Should the U.S. Energy Information Administration data set for release later on Wednesday also show a decline, it could indicate that consumption during the summer driving season has peaked and refiners are easing back their runs. The demand season typically runs from the Memorial Day holiday at the end of May to the Labor Day holiday in early September. Analysts polled by Reuters expect the EIA report to show crude inventories fell by about 300,000 barrels last week. Live Events Outlooks issued by OPEC and the EIA on Tuesday pointed to increased production this year which also weighed on prices. But both expect output in the U.S., the world's largest producer, to decline in 2026 while other regions will increase oil and natural gas production . U.S. crude production will hit a record 13.41 million barrels per day in 2025 due to increases in well productivity, though lower oil prices will prompt output to fall in 2026, the EIA forecast in a monthly report. The Organization of the Petroleum Exporting Countries' monthly report said global oil demand will rise by 1.38 million bpd in 2026, up 100,000 bpd from the previous forecast. Its 2025 projection was left unchanged. The White House on Tuesday tempered the expectations for a quick Russia-Ukraine ceasefire deal, which may lead investors to reconsider an end to the war soon and any easing on sanctions Russian supply, which had been supporting prices. U.S. President Donald Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss ending the war. "Trump downplayed expectations of his meeting with President Putin ... However, expectations of additional sanctions on Russian crude continue to fall," ANZ senior commodity strategist Daniel Hynes wrote in a note.

Rupee-rouble rule: What RBI move means for Russia trade
Rupee-rouble rule: What RBI move means for Russia trade

Time of India

time37 minutes ago

  • Time of India

Rupee-rouble rule: What RBI move means for Russia trade

Representative image A host of measures have been taken by govt and RBI in recent days to ease rupee-rouble trade. TOI takes a look at the steps: Why is there a buzz around rupee-rouble trade again? Days after Trump announced higher tariffs for India, RBI on Aug 5 issued a circular allowing authorised dealer (AD) category-1 banks to open special rupee vostro accounts (SRVAs) for their foreign correspondent banks without prior RBI approval. On Tuesday, RBI made it easier for these funds to be freely invested in govt securities and treasury bills, lifting some of the restrictions. What is a vostro a/c? A vostro account is a bank account where the domestic bank acts as a custodian or correspondent for the foreign bank's funds in local currency. An Indian bank maintaining an account in Indian rupees for a Russian bank is called a vostro account. An SRVA facilitates oil trade with Russia by enabling transactions to be settled directly in rupees without converting through third-party currencies like the dollar, which is the case with other vostro accounts. How will RBI move help? The change simplifies and accelerates the process of opening these accounts, which are used to facilitate invoicing, payment, and settlement of international trade transactions in Indian rupees. Previously, banks had to seek RBI permission before opening SRVAs, but now they can open them independently, speeding up rupee-based trade settlements. How does the SRVA facilitate trade with Russia? In the context of oil trade, Russian oil exporters, through their banks, can hold Indian rupees in their SRVA maintained with an Indian bank, allowing payments for oil shipments from Indian importers to be made efficiently and quickly in rupees. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Colombia: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo This bypasses the need for dollar-based trade settlements, reducing currency conversion costs, exchange rate risks, and payment delays. What are the challenges? India imports more from Russia than it exports, and the oil-import-driven trade deficit causes Russia to accumulate Indian rupees, complicating settlements. Russian exporters, who do not face US sanctions, prefer payments in dollars to rupees. The volatile, tightly controlled rouble complicates direct exchange with the rupee, often necessitating costly conversions through the dollar. Western sanctions, including restrictions on Russian banks' access to SWIFT, create operational hurdles and make Indian banks cautious when clearing payments. How are these challenges being addressed? Measures include developing a dynamic rupee-rouble exchange rate mechanism to bypass costly dollar conversions, establishing payment confirmation systems, and exploring alternative financial messaging networks to replace SWIFT. RBI has allowed Russian entities to invest surplus rupee balances from SRVAs in Indian G-Secs, bonds, equity, and infrastructure projects, enabling use of the funds beyond simple trade settlements. Proposals also include permitting rupee balances to be used for exports to third countries, allowing Russian suppliers to order goods from India using those rupees while receiving payment from other nations in different currencies. Discussions are underway on implementing trilateral settlement mechanisms involving the UAE. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store