Russia has restated its commitment to sustaining oil supplies to India despite increasing international pressure, with President Vladimir Putin expected to visit New Delhi for talks with Prime Minister Narendra Modi before the end of the year.
At a press briefing on Wednesday, Russia’s chargé d’affaires in India, Roman Babushkin, described Moscow’s energy arrangements with New Delhi as a “very, very special mechanism” that would ensure continued crude oil imports. While the visit has been confirmed, dates for the Putin-Modi meeting are yet to be finalised.
India has sharply increased its purchases of Russian oil since Western sanctions were imposed following Moscow’s invasion of Ukraine, a move that has drawn criticism from the United States. Washington is set to impose an additional 25 percent tariff on Indian exports from August 28 but has so far avoided similar measures against China, which continues to import Russian crude.
The European Union has also tightened restrictions, sanctioning Russian-linked Indian refiner Nayara Energy last month. The decision forced the company to scale back processing activities, with some international traders pulling back from business dealings.
Despite these setbacks, bilateral trade between India and Russia is projected to grow by about 10 percent annually, according to Russia’s Deputy Trade Representative to India, Evgeniy Griva.
The upcoming Putin-Modi meeting highlights the deepening energy and trade ties between the two nations, even as geopolitical tensions heighten friction with Western partners.
