Putin visits India, offers “uninterrupted supply” of Russian fuel as Trump tries to curb Moscow’s energy sales
The 23rd Russia-India Summit took place in New Delhi, where Russian President Vladimir Putin and Indian Prime Minister Narendra Modi discussed diversifying mutual economic ties. This summit occurs at a crucial moment as the U.S. is pushing for a Ukraine peace deal and seeking global cooperation, putting pressure on India to reevaluate its long-standing partnership with Russia.
During the talks, Putin and Modi finalized an economic cooperation program until 2030, with the goal of boosting annual trade to $100 billion by that time. They also emphasized the importance of strong energy ties between the two countries. Bilateral trade between India and Russia reached $68.7 billion in the last fiscal year, with efforts to bridge the trade deficit by increasing exports.
Putin highlighted Russia’s role as a reliable supplier of energy resources for India’s growing economy and mentioned ongoing discussions about establishing a free trade zone with the Eurasian Economic Union. Modi, on the other hand, expressed India’s commitment to continuing civil nuclear cooperation with Russia and expanding collaboration in various sectors such as clean energy, shipbuilding, fertilizers, and labor mobility.
Despite India’s historically close ties with Russia, there are concerns that Putin’s visit could strain relations with the European Union and the United States. The U.S. has raised tariffs on Indian goods to 50% due to New Delhi’s discounted Russian oil imports, prompting discussions about potential trade agreements with both the EU and the U.S. that are crucial for India’s exports.
India is currently navigating a “strategic tightrope walk” between Russia and the West, balancing its relationships with both sides. The U.S. has imposed sanctions on Russian oil producers to pressure countries like India to reduce imports, while India is also in talks for a trade deal with the EU. The delay in finalizing these agreements is attributed to the ongoing tensions surrounding Russia’s actions in Ukraine.
During the summit, Modi pushed for the faster delivery of Russian S-400 surface-to-air missile systems and discussed plans to upgrade military cooperation and accelerate deliveries of military hardware. Both countries are also exploring opportunities to increase exports, enhance migration regulations for Indian workers in Russia, and strengthen overall bilateral relations.
The visit of Putin to India underscores the complexities of India’s foreign policy strategy, which aims to maintain strong ties with Russia while also seeking to deepen its partnership with the U.S. The two leaders are expected to continue discussions on enhancing cooperation in various sectors and addressing key challenges in the evolving geopolitical landscape.
