Foreign portfolio investors (FPIs) domiciled in Russia may use the Indian markets to gain exposure to the US energy basket in order to sidestep the strict sanctions imposed on them, according to people in the know.
Starting Monday, the National Stock Exchange (NSE) will commence trading in the NYMEX WTI Crude Oil and Natural Gas (Henry Hub) derivatives contracts, which are among the world’s most traded commodity derivatives contracts.
Typically, Russian investors don’t have easy access to these derivative instruments. However, as some of them are registered as FPIs in India, they can freely participate in the domestic commodities market.
According to the