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PRNewswire—Bengaluru (Karnataka) [India], July 19: <keyword id="1606194" type="General" weightage="100" keywordseo="Aereo" source="Orion">Aereo</keyword>, India's leading <keyword id="22468617" type="General" weightage="20" keywordseo="drone-based-business-intelligence" source="Orion">drone-based business intelligence</keyword> provider, has successfully closed a <keyword id="22468616" type="General" weightage="20" keywordseo="USD-15-million" source="Orion">USD 15 million</keyword> <keyword id="1095983" type="General" weightage="20" keywordseo="Series-B-funding" source="Orion">Series B funding</keyword> round led by 360 ONE Asset. The round saw participation from long-standing investors StartupXseed Ventures and Navam Capital. Aereo delivers <keyword id="20829411" type="General" weightage="20" keywordseo="business-intelligence" source="keywords">business intelligence</keyword> solutions to help manage large capital assets using proprietary drones and an AI-powered data analytics platform. Their sector-specific solutions cater to mining, infrastructure, urban and rural development, land records, and other industries translating into a 400% revenue growth in the last two years and market dominance. Vipul Singh, co-founder and CEO of Aereo, stated, "This funding milestone enables us to expand our <keyword id="22468614" type="General" weightage="20" keywordseo="aerial-intelligence" source="keywords">aerial intelligence</keyword> solutions for capital asset management. With our proprietary drone tech and 360 ONE Asset's partnership, we aim to revolutionise this $10 billion industry and create a global footprint." <keyword id="22468618" type="General" weightage="20" keywordseo="Suhas-Banshiwala" source="Orion">Suhas Banshiwala</keyword>, co-founder and CTO of Aereo, stated, "Our vision is to continuously innovate drone manufacturing and data analytics for the greater good. We are excited about the confidence our customers and shareholders have shown and are gearing up for an orbital shift." Aereo has been recognised by the Asian Infrastructure Investment Bank (AIIB) as one of the top three infra-tech organisations. As a technology partner for Coal India Limited's Digicoal initiative, Aereo provides critical business intelligence for some of the world's largest coal mines for improving productivity, efficiency, safety, and environmental compliance. It has also been empanelled with Tata Steel since 2019, aiding the digitalisation of over 27 critical mines and stockyards. Over the past three years, Aereo has achieved significant milestones, including mapping over 45,000 villages under the SVAMITVA scheme and covering more than 50,000 sq. km of land area for the Digital India Land Record Modernisation Program (DILRMP). The Series B investment serves as a powerful catalyst for Aereo's growth, with a key focus on automation. Their AI-powered drone data analytics platform is set to revolutionise automation and digitisation. With strategic partnerships, R&amp;D, and new product development, Aereo is ready to lead the global <keyword id="22468613" type="General" weightage="20" keywordseo="drone-solutions" source="keywords">drone solutions</keyword> sector. Karan Ahuja, Fund Manager at 360 ONE, remarked, "We're thrilled with the momentum in the <keyword id="22468615" type="General" weightage="20" keywordseo="commercial-drone" source="keywords">commercial drone</keyword> tech sector in India. Our partnership with Aereo reflects our belief in their cutting-edge innovations, and we're excited for their solutions to go global." Ravi Thakur, Co-Founding Partner at StartupXseed, added, "Aereo has been a trailblazer from the start, delivering exceptional solutions and building the drone ecosystem. We're excited to support them in their next major growth phase."

Aereo, India's leading commercial drone solutions startup, secures USD 15 million in Series B funding round

Cricketer MS Dhoni-backed <keyword id="22760229" type="General" weightage="20" keywordseo="drone-technology-firm" source="keywords">drone technology firm</keyword> <keyword id="20401750" type="General" weightage="20" keywordseo="Garuda-Aerospace" source="keywords" meta.keywordsubtype="org" meta.entityname="Garuda Aerospace" meta.hostid="261" meta.entityid="Garuda Aerospace">Garuda Aerospace</keyword> on Monday announced its entry in the <keyword id="22760228" type="General" weightage="20" keywordseo="Sri-Lankan-market" source="keywords">Sri Lankan market</keyword> where it will primarily target <keyword id="19915424" type="General" weightage="20" keywordseo="agricultural-sector" source="keywords">agricultural sector</keyword> to enhance farming practices, besides exploring opportunities in <keyword id="20695675" type="General" weightage="20" keywordseo="homeland-security" source="keywords">homeland security</keyword> and industrial applications. As part of the company's global expansion plans, the foray into Sri Lanka will also support Garuda in capitalising on the country's strategic location and drone-friendly regulatory environment, Garuda Aerospace said. The company said it is looking to spread its presence in at least 50 countries over the next few years, and has set aside USD 10 million, of the over Rs 100 crore revenue it delivered in FY24, to fuel the international growth. "This (expansion into Sri Lanka) isn't merely about growth, it's about unlocking the full potential of drone technology to create substantial impacts across various sectors. Sri Lanka's diverse landscape allows us to showcase how our innovative solutions can bring tangible benefits, from agriculture to infrastructure," said Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace. Garuda Aerospace, which produces small and medium category drones, had partnered with Greek manufacturer Spirit Aeronautical Systems early this year. It has also signed a pact with French aerospace giant Thales to promote growth and innovation in India's drone sector. Spirit Aeronautical specialises in rotary and fixed-wing weaponised drones. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Garuda Aerospace enters Sri Lankan market

The Production-Linked Incentive (PLI) Scheme for <keyword id="19899038" type="General" weightage="20" keywordseo="drones" source="keywords">drones</keyword> and drone components is a kickstarter for the sector to progress and should not be considered as a permanent subsidy scheme by the government, according to Union Minister <keyword id="19895367" type="General" weightage="20" keywordseo="Piyush-Goyal" source="keywords">Piyush Goyal</keyword>. "The <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> is not an end to itself, infect the purpose of the PLI is to kickstart the industry. This is not a permanent subsidy. The aim is not to make the industry dependent on the subsidy of the government," Goyal said. The Union Minister's remaks came during his address at the International Innovation Conclave organised by the <keyword id="22293565" type="General" weightage="20" keywordseo="PHD-Chamber-of-Commerce-Industry" source="keywords" meta.keywordsubtype="org" meta.entityname="PHD Chamber of Commerce &amp; Industry" meta.hostid="329" meta.entityid="PHD Chamber of Commerce &amp; Industry">PHD Chamber of Commerce &amp; Industry</keyword> (PHDCCI) in New Delhi on Thursday. Goyal noted that technological progress in the drone industry will help farmers in getting higher quality crops and will also help in increasing the yield of crops, The minister pointed out that drones will help in combating erratic weather patterns. Praising the development of technology and growth in the drone industry on the strength of innovation, he asserted that the development of the drone ecosystem and deploying them in villages across the nation aligns with the PM's 'NAMO Drone Didi' initiative that will help empower the women in the agriculture sector. "In the third term of the PM's administration we will work at triple the speed, ensure three times the result and hope to become the third largest economy in the world", said the Union Minister. He further stated that drones have the ability to contribute to the cooperative sector, Self-Help Groups (SHGs) and to Farmers Producer Organisation (FPOs) as a shared facility with the help of agri-infra funds in delivering fertilisers and reducing wastage and expenses of the farmers. The Union Minister said that for financing and mentoring of the drone ecosystem, (Small Industries Development Bank of India) SIDBI can be roped in to promote the sector. On the startup ecosystem, the Minister said that 18 Initial Public Offerings (IPOs) have already been offered in the first half of 2024 and 17 IPOs were offered in 2023. Goyal added that under the guidance of <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword>, the country has seen windfall investments from foreign investors and there has been a massive push for infrastructure. He further stated that easing of regulations and compliance burden on startups along with enabling Ease of Doing Business (EoDB) have been the primary focus of PM Modi's government. The minister also added that infrastructure growth has a multiplier effect on the economy that leads to demand for goods and services and increases consumption in the country. He stated that PM's infra push has enabled growth of industry and generation of employment that has put the nation on a virtuous cycle of growth. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

Production Linked Incentive scheme for drones to kickstart industry, not permanent subsidy: Piyush Goyal

<keyword id="19919396" type="General" weightage="20" keywordseo="Tripura" source="keywords">Tripura</keyword> Agriculture and Farmers Welfare <keyword id="19914583" type="General" weightage="20" keywordseo="Minister" source="keywords">Minister</keyword> Ratan Lal Nath on Thursday said that within the next few months, drone technology will be integrated with the state's agriculture sector to address certain challenges. The members of <keyword id="22212826" type="General" weightage="20" keywordseo="womens-self-help-groups" source="keywords">women's self-help groups</keyword> (SHGs) will get the best possible training so that they can operate the drones effectively for different purposes such as <keyword id="22212827" type="General" weightage="20" keywordseo="spraying-fertilisers" source="keywords">spraying fertilisers</keyword> and pesticides in fruit and flower gardens. Speaking to after the inauguration of the new Agriculture Development Research and Training Centre at Killa under the Gomati district of Tripura, Nath said, "The central government has launched the scheme called drone Didi which is especially for women. Soon after the scheme was launched, a state committee was constituted. As per the recommendations of the committee, drones will be sent to the agriculture sub-divisions." According to Nath, the appointment of trainers has already been done who will impart training to the SHG members. "The trainers are already recruited. We hope within the next two months drones will reach each of the 47 agri-subdivisions," he added. The Minister also announced that a special scheme has been undertaken to appoint "Krishi Sakhis (Friends of Farmers)" who provide agriculture-related solutions to the farmers in the rural areas. "One sakhi (friend) will be appointed for one rural local body such as Gram panchayats and Village Committees. We have forwarded the proposal to the central government. If we get the approval, the process of appointing Sakhis will be started immediately." On the agricultural infrastructure he inaugurated, Nath said, "We are setting up new infrastructure in all agri subdivisions. This is a new training center set up for the farmers of the area. All the officials, trainers, and experts will come here and speak to the farmers. Arrangements have also been made for video conferencing." SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/stock-market/news/allied-blenders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111317150.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/allied-blenders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111317150.cms" target="_blank">Allied Blenders IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

Tripura to introduce drones for agriculture purposes, says Minister

The induction of <keyword id="21291143" type="General" weightage="20" keywordseo="heavy-lift-helicopters" source="keywords">heavy-lift helicopters</keyword> and <keyword id="21291142" type="General" weightage="20" keywordseo="logistic-drones" source="keywords">logistic drones</keyword>, deployment of all-terrain vehicles and laying of an extensive network of tracks are among a host of measures that have enhanced India's <keyword id="20889609" type="General" weightage="20" keywordseo="combat-prowess" source="keywords">combat prowess</keyword> in Siachen, the world's highest battlefield, officials said on Saturday. As the <keyword id="19908736" type="General" weightage="20" keywordseo="Indian-Army" source="keywords">Indian Army</keyword> marks the 40th year of its presence on the strategically-significant <keyword id="20282432" type="General" weightage="20" keywordseo="Siachen-glacier" source="keywords">Siachen glacier</keyword>, the officials said there have been extensive improvements in the operational capabilities of the force due to the enhancement of infrastructure in the region in the last few years. The Siachen glacier at the height of around 20,000 feet in the Karakoram mountain range is known as the highest militarised zone in the world where soldiers have to battle frostbite and high winds. Under its "<keyword id="21291144" type="General" weightage="20" keywordseo="Operation-Meghdoot" source="keywords">Operation Meghdoot</keyword>", the Indian Army established its full control over the glacier on April 13, 1984. "The Indian Army's control over the Siachen glacier has not only been a story of unparalleled valour and determination but also an incredible journey of technological advancements and logistical improvements that transformed it from one of the most formidable terrains into a symbol of indomitable spirit and innovation," said an official. The initiatives, especially laid out in the last five years, have made significant strides in improving the living conditions and operational capabilities of the personnel deployed in Siachen, he said on the condition of anonymity. In January last year, Captain Shiva Chauhan from the Army's Corps of Engineers was posted at a frontline post in the Siachen glacier, in the first such operational deployment of a woman Army officer at a key battlefield. The official cited above said there has been a noteworthy improvement in the aspect of mobility in Siachen. "The development of an extensive network of tracks and the introduction of all-terrain vehicles (ATV) have significantly improved mobility across the glacier," he said. Another official said innovations like the DRDO-developed ATV bridges have enabled the Army to overcome natural obstacles, while high-quality "Dyneema" ropes in aerial cableways ensure seamless supply lines to even the most-remote outposts. "The induction of heavy-lift helicopters and logistic drones has vastly improved the supply of essentials to the personnel deployed in posts that are cut off, especially in winters," he said. "The availability of special clothing, mountaineering equipment and advanced rations has enhanced the ability of the soldiers to withstand the harsh conditions of the world's coldest battlefield," the official added. He said gadgets, such as pocket weather trackers, with each soldier provides timely weather updates and warn them about possible avalanches. "Recent initiatives concerning the improvement of connectivity have ensured that the personnel in forward posts in the northern and central glacier regions have access to fresh ration and vegetables instead of tinned ration, an aspect that could not have been imagined a few years ago," the official said. "Fresh ration and vegetables are now a reality for our forward posts, thanks to new logistic initiatives," he added. There has been a focus on improvement in mobile and data connectivity in the region as well. "The introduction of the VSAT technology has revolutionised communication on the glacier, providing the troops with data and internet connectivity," the second official said. "This leap in technology has enhanced real-time situational awareness, telemedicine capabilities and the well-being of our soldiers by keeping them connected with their families," he said. The VSAT or very small aperture terminal is a data-transmission technology. The Army has also been focusing on boosting the medical infrastructure in Siachen. The Indian Space Research Organisation (ISRO) has established telemedicine nodes that provide critical medical support not only to the troops but also to the local populace and tourists in the Nubra valley. "The medical facilities in Partapur and the base camp boast of some of the best medical and surgical specialists, state-of-the-art HAPO chambers and oxygen generation plants, besides life-support systems. This has ensured that all endeavours are made to save every life in this challenging terrain," said a third official. 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Indian Army marks 4 decades of presence in Siachen glacier

<ul class="summary-list"><li>South Korea plans to deploy a low-cost laser weapon to shoot down North Korean drones.</li><li>The weapon, called Block-I, will cost around just $1.45 a shot.</li></ul>South Korea is set to deploy a <a target="_blank" class="" href="https://www.businessinsider.com/dragonfire-uk-test-fired-laser-shoot-drones-defense-2024-1">low-cost laser weapon</a> that can melt North Korean drones, the country's arms agency said earlier this week.The weapon, known as Block-I, will cost around 2,000 South Korean won ($1.45) a shot and "is capable of precise strikes against small unmanned aerial vehicles," according to South Korea's Defense Acquisition Program Administration (DAPA).The "Star Wars project" is set to be ready for "full-scale operation" this year, per the DAPA, which added that the laser system would help strengthen South Korea's ability "to respond to North Korea's drone provocations."Lee Sang-yoon, a DAPA official, told AFP that the laser worked by transferring heat to oncoming drones."When a laser weapon transfers heat to a drone, its surface melts. As the surface melts, the internal components catch fire, causing the drone to eventually fall," Lee said.It follows <a target="_blank" class="" href="https://www.businessinsider.com/south-korea-speed-up-stealth-drones-after-north-drone-flights-2022-12">calls from South Korean President Yoon Suk Yeol</a> in 2022 for stronger air defenses after the South Korean military failed to bring down a number of North Korean drones that had ventured across the border for the first time in five years.Laser weapons have been garnering increasing international interest in recent years.<a target="_blank" class="" href="https://www.rand.org/pubs/commentary/2024/01/directed-energy-the-focus-on-laser-weapons-intensifies.html">According to the think tank RAND,</a> Israel, China, Russia, France, India, Turkey, Iran, South Korea, and Japan are just some of the countries investing in national programs.Earlier this year, the UK <a target="_blank" class="" href="https://www.businessinsider.com/uks-dragonfire-laser-system-could-deployed-ukraine-mod-says-2024-4">announced that it had tested</a> a new high-power laser that could be used against Russian drones in Ukraine.According to the <a target="_blank" href="https://www.gov.uk/government/news/advanced-future-military-laser-achieves-uk-first">UK's Ministry of Defence</a> (MoD), the DragonFire weapon typically costs less than $13 a shot.The US has also previously hinted that laser systems may be available to protect bases in the <a target="_blank" rel="" href="https://www.businessinsider.com/us-military-could-use-laser-microwave-weapons-bases-israel-2023-11">Middle East from drone and missile attacks</a>, although it's unclear whether they have been used."Competing nations are pouring so much investment into DEWs because, if the technology can be matured, such systems hold the potential to tip both the military and economic calculus of modern warfare in their users' favour," RAND said in a report.

South Korea plans to roll out 'Star Wars' laser weapon to melt North Korean drones for just $1.50 a hit

Blood delivery through drones can soon be expanded to the whole country, a senior official said after the <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>n Council of Medical Research successfully conducted a trial run of blood bag delivery by <keyword id="6354474" type="General" weightage="20" keywordseo="drone" source="Orion">drone</keyword>s under its iDrone initiative on Thursday. The initiative was in continuance with the national mission of expanding the drone ecosystem in India. The 'i-DRONE' was first used by <keyword id="6364396" type="General" weightage="100" keywordseo="icmr" source="Orion">ICMR</keyword> during the COVID-19 pandemic for distributing vaccines to hard-to-reach areas. "Today, we are transporting blood and blood-related products which are supposed to be kept at a low temperature. After the experiment, we found that not only can we maintain the temperature but there was also no damage to the products transported. "We sent another sample through an ambulance and if there are no differences in the samples sent using the two modes then drones will be used all over India," said Dr Rajiv Bahl, the director general of ICMR. He also said that "clarity on challenge mapping and identifying the possible solutions can be achieved by developing indigenous capacities in research and introduction of innovations and technologies in the mainstream". "With digitisation, efficient manufacturing of vaccines and development of a rapid delivery mechanism, India achieved 90 per cent coverage within a year. The boost of technology is an accelerator which is gradually pushing India towards achieving the status of being a developed nation," he added. The trial run as part of a path-breaking validation study has been undertaken for the first time in the country by the collaborative efforts of ICMR, Lady Hardinge Medical College, New Delhi, Government Institute of Medical Sciences, Greater Noida, and Jaypee Institute of Information Technology, Noida. The inaugural trial flight carried 10 units of whole blood samples between the Government Institute of Medical Sciences, Greater Noida, and Lady Hardinge Medical College, New Delhi, in visual line of sight, according to an official statement. Some countries are already using drones to deliver blood products, vaccines, pharmaceuticals, medical supplies, and even organs to remote, rural areas or areas with poor infrastructure. In Ghana, drone delivery of blood -- both as laboratory samples and as emergency blood and blood product delivery -- is now available for thousands of health facilities serving millions of people. In the US, where whole blood and blood products are often sparse in rural areas, drones are more highly regulated and air traffic is more congested, the feasibility of drone delivery of blood and blood products is still being assessed. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-7a-vs-oneplus-11r-comparison-which-phone-should-you-buy-under-50000/slidelist/100153385.cms">Pixel 7a vs OnePlus 11R – which phone should you buy under ₹50,000</a> <a href="https://www.businessinsider.in/tech/news/pixel-fold-pixel-7a-pixel-tablet-and-everything-announced-at-google-i/o-2023/articleshow/100143082.cms">Pixel Fold, Pixel 7a, Pixel Tablet and everything announced at Google I/O 2023</a> <a href="https://www.businessinsider.in/tech/mobile/news/survey-reveals-three-out-of-four-indians-suffer-from-nomophobia-heres-what-it-means/articleshow/100073985.cms">Survey reveals three out of four Indians suffer from NoMoPhobia: Here’s what it means</a>

Blood delivery by drones across India may soon be reality, says ICMR after successful trial run

<ul class="summary-list"><li>Russia's oil and gas revenue is set to surge despite Ukraine's attacks on energy infrastructure.</li><li>Revenue from oil and gas is a key way Russia funds its war in Ukraine.</li></ul>Russia's oil and gas revenue for April is expected to soar by roughly double year on year despite increased Ukrainian attacks on energy infrastructure, a <a target="_blank" href="https://www.reuters.com/business/energy/russias-april-oil-gas-revenue-double-reuters-calculations-show-2024-04-24/">Reuters</a> report said.The news agency projected Russian oil and gas revenue for the month to come in at 1.292 trillion rubles, which is around $14 billion, up from 648 billion rubles, or roughly $7 billion.Reuters said it made the calculations using "data from industry sources and official statistics on oil and gas production, refining and supplies on domestic and international markets."The April data is expected to be published by the Russian Finance Ministry in early May, per the report.Revenue from oil and gas is a key way in which Russia funds its war in Ukraine, and the significant year-on-year rise highlights the difficulty Western countries have had in attempting to impose effective sanctions on its economy.The West has taken a number of steps to try to limit Russia's income from energy.Measures have included the US and the UK banning Russian oil and gas, the EU prohibiting the maritime import of Russian crude, and G7 leaders agreeing to set a price cap on Russian crude oil at $60 per barrel.But Russia says it has largely managed to circumnavigate these moves.In December last year, Russian Deputy Prime Minister Alexander Novak <a target="_blank" href="https://www.reuters.com/business/energy/half-russias-2023-oil-petroleum-exports-went-china-russias-novak-2023-12-27/#:~:text=Russia%20exports%20almost%20all%20its,China%20and%20India%20%2D%20Novak%20%7C%20Reuters">said</a> almost all of Russia's oil exports in 2023 had been shipped to China and India, adding that the European share of crude exports had fallen from around 40-45% to just 4-5%."The main partners in the current situation are China, whose share has grown to approximately 45-50%, and, of course, India...Earlier, there basically were no supplies to India; in two years, the total share of supplies to India has come to 40%," Novak said."As for those restrictions and embargoes on supplies to Europe and the U.S. that were introduced... this only accelerated the process of reorienting our energy flows," he added.The news comes despite increasing Ukrainian strikes on Russian energy infrastructure.<div type="image" title="Firefighters extinguish oil tanks at a storage facility that local authorities say caught fire after the military brought down a Ukrainian drone, in the town of Klintsy in the Bryansk Region, Russia January 19, 2024." height="1964" width="3597" msid="109645871" hostid="261" sizebytes="134666"></div>Earlier this week, a Ukrainian intelligence source told Reuters that Ukraine's security service (SBU) had carried out drone strikes on two <a target="_blank" rel=" nofollow" href="https://www.reuters.com/world/europe/ukrainian-drones-struck-two-rosneft-oil-depots-attack-kyiv-source-says-2024-04-24/">Rosneft-owned oil depots</a> in Russia's Smolensk region.The source noted that the SBU was continuing to target "logistics that provide fuel to the Russian army in Ukraine.""These facilities are and will remain our absolutely legitimate targets," they said.Despite Russia's strong April revenue projections, it seems Ukraine's strikes are having some success.<a target="_blank" rel=" nofollow" href="https://www.bloomberg.com/news/articles/2024-04-22/russian-oil-refining-hampered-by-floods-as-drone-damage-persists">Bloomberg reported</a> this week that Russia's oil refining was at an 11-month low because of flooding and Ukraine's drone campaign.Between April 11-17, Russia processed 5.22 million barrels of crude oil a day, Bloomberg reported, citing a person with knowledge of the industry data.The report said that that was 10,000 barrels a day below the average of the seven days prior.

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