Coal India signed MOUs with two Russian entities within the areas of coking coal mining within the Russian Far East and therefore the Arctic Region. The first MOUs was signed with Far Eastern Agency for Attracting Investments and Supporting Exports (FEAAISE), Russia and the second MoU was signed with Eastern Mining Company (FEMC) of Russian Federation for exploring, identifying, sourcing, negotiating and consummating interdependent investment opportunities within the mining sector within the Russian Far East .
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India is seeking a long-term agreement for supply of crude oil from Russia as it seeks to diversify its sources for hydrocarbons. Both the countries has begun negotiations on long-term assured supplies of petroleum , especially from Russia’s Far East , and has also invited Russian companies, particularly in gas business, gas infrastructure and petrochemicals, to invest in India.
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