HIGHLIGHTS
- Modi calls energy security a key pillar of India-Russia ties.
- Trump imposed 50 per cent tariffs on Indian products over Russian oil purchases.
- Summit focuses on trade, defence, nuclear energy, and peace efforts in Ukraine.
- Indian and Russian firms expected to announce agreements, including a urea plant plan.
RUSSIAN president Vladimir Putin said Friday that Russia was ready to continue “uninterrupted shipments” of fuel to India as New Delhi faces pressure from the United States to reduce purchases of Russian oil.
“Russia is a reliable supplier of oil, gas, coal, and everything that is required for the development of India's energy,” Putin told prime minister Narendra Modi in New Delhi. “We are ready to continue uninterrupted shipments of fuel for the fast-growing Indian economy,” he said via an official translator.
US president Donald Trump imposed 50 per cent tariffs on most Indian products in August, citing India’s continued purchases of Russian oil, which Washington argues help fund the war in Ukraine.
Modi thanked Putin for his “unwavering commitment towards India” and said “energy security has been a strong and important pillar of the India-Russia partnership”. Modi referenced nuclear power in his remarks but made no specific reference to oil. Modi addressed “my friend” Putin and said New Delhi and Moscow had longstanding ties.
Modi said India and Russia had agreed on an economic cooperation programme until 2030 after officials exchanged agreements covering jobs, health, shipping, and chemicals. “This will ensure that our trade and investment are diversified, balanced, and sustainable,” Modi said.
The summit in New Delhi was Putin’s first visit to India in four years, with talks focused on trade and India’s stated support for peace efforts in Ukraine. Modi told Putin that “India is not neutral — India has a position, and that position is for peace. We support every effort for peace, and we stand shoulder to shoulder with every initiative taken for peace.”
Putin thanked Modi for his attention and efforts on the issue. “We had the opportunity - and you gave me that opportunity - to speak in detail about what is happening on the Ukrainian track and about the steps we are taking jointly with some other partners, including the United States, toward a possible peaceful settlement of this crisis,” Putin said.
Putin said cooperation opportunities were expanding as both economies grow. “New areas are emerging - high technologies, joint work in aviation, space, and artificial intelligence. We have a very trusting relationship in the field of military-technical cooperation, and we intend to move forward in all these areas,” he said.
Putin arrived in New Delhi on Thursday and was greeted by Modi on the tarmac before they travelled together for a private dinner. On Friday he received a ceremonial welcome at Rashtrapati Bhavan with a 21-gun salute.
The two sides are expected to announce agreements at the end of their talks. Indian firms are expected to sign an agreement with Uralchem to set up a urea plant in Russia, Reuters reported. Russian lenders Gazprombank and Alfa Bank have sought approval to operate in India to help boost trade, Reuters reported.
Modi and Putin were also expected to discuss labour and civil nuclear energy. Russia’s defence minister Andrei Belousov, part of the delegation, met Indian defence minister Rajnath Singh on Thursday. Belousov said “the Russian defence industry is ready to support India towards becoming self-reliant in the field of defence production,” according to India’s defence ministry.
In an interview aired Thursday by India Today, Putin questioned US pressure on India over Russian fuel purchases. “If the US has the right to buy our fuel, why shouldn't India have the same privilege? This question deserves thorough examination, and we stand ready to discuss it, including with president Trump,” Putin said. He also said that while there was a minor dip in India-Russia trade in the first nine months of the year, energy trade was “running smoothly”.
India has stated that Trump’s tariffs are unjustified and unreasonable and has pointed to ongoing US and EU trade with Moscow, including imports of Russian energy and commodities such as liquefied natural gas and enriched uranium.
Putin held talks with Trump’s top envoys a day before arriving in India on possible peace efforts in Ukraine, but no compromise was reached.
India has not condemned Russia over the war and has called for dialogue and diplomacy, while saying its ties with Moscow are being unfairly targeted by Western countries that continue business with Russia when it suits their interests.
“India faces a conundrum; by taking steps to strengthen ties with Moscow or Washington, New Delhi risks setting back ties with the other,” Michael Kugelman of the Atlantic Council wrote in Foreign Policy magazine.
(With inputs from agencies)
