The deal that will give Rosneft, commodities trading house Trafigura and private investment group United Capital Partners a 98 per cent stake in Essar's oil arm is "US-sanctions compliant," said Essar Group's chief executive, Prashant Ruia. GOA, India (Reuters) - India and Russia signed billions of dollars of defense and energy deals on Saturday at a summit that sought to inject new life into a relationship that has been tested by shifting global alliances and conflict in the Middle East.
Indian Prime Minister Narendra Modi and Russian President Vladimir Putin sign several agreements including a $12.9 billion defense and energy deal. Russian state oil major Rosneft pays for a controlling stake in both India's Essar Oil and port facilities that it already owns.