Russia Offers Northern Route | Latest Burning Issues | Free PDF Download

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UPSC PRELIMS 2005

Consider the following statements:

1. The Parliament of Russia is called Federal Assembly.
2. The Council of the Federation in the Russian Parliament is the lower house.
3. The name of the upper house in the Russian Parliament is State Duma.

Which of the statements given above is/are correct?

1. 1, 2 and 3
2. 1 and 2
3. 2 and 3
4. 1 only

 ANSWER – D

• The State Duma – the Lower House
• The Council of the Federation – Upper House

RUSSIAN PRESIDENT VLADIMIR PUTIN MADE THIS ANNOUNCEMENT IN INDIA

• “…the Prime Minister and I discussed this earlier today; we welcome our Indian partners to join the work in the Arctic as well. This is a very promising, long-term and very serious project that looks decades ahead, one with good investment and good return. As the climate continues to change — in some places, this is good, and elsewhere perhaps not so good —the Northern Sea Route offers growing opportunities,” Putin said

FULL STATEMENT

• “We are building a nuclear-powered fleet, eight nuclearpowered ships, which will be steadily put into operation. This work is in progress. This will ensure reliable LNG supplies to the Indian and world markets. So this could be very interesting joint work,”

POSSIBILITIES

• The Arctic contains a wealth of petroleum and mineral resources.
• Putin assured “our country has been and will be a reliable energy supplier for the Indian economy”. He noted joint projects in the field of supplies of LNG are of strategic importance.

BILLIONS OF DOLLARS

• The two counties have over the last year significantly boosted relations in northern Russian energy projects.
• In early October this year, a consortium of Indian companies, headed by Oil India Ltd, formalized a 23,9 percent acquisition of Vankorneft, the Rosneft-controlled company managing the huge Vankor oil field.
• The deal, which had a price of $2,021 billion, was followed by a 29.9 percent of the nearby oil field Taas-Yuryakh by the same companies. The latter deal included $1,12 billion, Rosneft informs.

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