Russia Begins Oil Exports From Arctic:: Defying the sanctions of America and European countries, Russia has started extracting oil in the Arctic. Russia has started extracting oil from its big 'Vostok Oil Project' in the Arctic region. Russian President Vladimir Putin flagged off the loading of the first consignment through video conferencing. Russia has set a target of extracting 30 million tonnes of crude oil annually by the second half of 2027.
This Russian project is in the Taimyr region of Northern Siberia. Many oil fields including Vankor and Payakha are connected to it. Four Indian government companies have a combined stake of 49.9% in Vancorneft, the company associated with the project. These include ONGC Videsh, Indian Oil, Oil India and Bharat Petro Resources.
There may be reserves of about 700 crore tonnes of oil in this area. India can benefit from this. The oil produced from this project will be transported through a 790 km long pipeline to the Bukhta Sever Terminal in the Kara Sea. There the oil will be filled in tankers and sent to other countries. With this, oil ships coming from Russia to India will not have to pass through the Strait of Hormuz.
Let us tell you that India imports about 50% of its crude oil requirement through the Strait of Hormuz. According to a report, India got about 26 lakh barrels of crude oil daily through this route in January-February 2026. This oil mostly comes from Iraq, Saudi Arabia, UAE and Kuwait. In November-December 2025, about 40% of India's total crude imports came via Hormuz, which increased to about 50% in January-February.
'Islam is the best among all religions, everyone should go to the mosque…', statement of Karnataka Education Minister Basavaraj Rayareddy, said- I want to go to Mecca, BJP angry.
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