Russia's Kremlin says it has not seen any new developments when it comes to India and Russian oil

Russia's Kremlin says it has not seen any new developments when it comes to India and Russian oil.

The Kremlin's statement on not observing new developments regarding Indian-Russian oil relations signals stability in their energy ties, which is crucial given the ongoing scrutiny from Western nations. This lack of change could ease some geopolitical tensions in energy markets but also hints that reliance on Russian oil is maintained amidst sanctions, potentially impacting oil prices and related currencies. Traders should watch for any shifts in sentiment around energy commodities and forex, especially involving the RUB and INR.