Putin vows ‘uninterrupted’ energy flow to India after New Delhi visit
The visit comes as India has been under heavy US pressure to reduce energy cooperation with Moscow
Russian President Vladimir Putin visited India this week and held talks with Indian Prime Minister Narendra Modi on 5 December, vowing to continue supplying New Delhi with energy in defiance of Washington.
During the meeting in New Delhi, Putin promised to continue “uninterrupted” fuel supplies to India.
“Russia is a reliable supplier of energy resources and everything necessary for the development of India’s energy sector. We are ready to continue ensuring the uninterrupted supply of fuel for the rapidly growing Indian economy,” he said.
Modi said in a statement that “energy security has been a strong and important pillar of the India-Russia partnership.”
The Indian prime minister also said ties between Moscow and New Delhi are a “guiding star,” adding that "Based on mutual respect and deep trust, these relations have always stood the test of time."
"We have agreed on an economic cooperation program for the period up to 2030. This will make our trade and investment more diversified, balanced, and sustainable," Modi announced.
The two sides have agreed to set a $100 billion bilateral trade target before 2030.
“I am confident that we will achieve this target well ahead of schedule. We are making rapid progress towards this goal,” Modi said while speaking at the India-Russia Business Forum.
A joint Indian-Russian statement after the meetings said the two leaders “emphasized that in the current complex, tense, and uncertain geopolitical situation, Russian-Indian ties remain resilient to external pressure."
Russian news outlet RIA Novosti reported on Friday that Moscow’s Rosatom atomic energy firm is in discussions with India about potentially localizing the production of nuclear fuel needed for nuclear power plants.
During Putin’s visit to the Indian capital, Moscow and New Delhi also reached a memorandum of understanding (MoU) for the construction of new nuclear energy plants and the expansion of cooperation in the field of atomic energy, the outlet said.
In mid-November, India reached a major liquefied petroleum gas (LPG) deal with the US in an effort to “diversify.”
US tariffs have hit India exceptionally hard in recent months.
President Donald Trump has accused the country of fueling the war in Ukraine through its energy ties with Moscow and its imports of Russian oil.
The Trump administration imposed sweeping tariffs on Indian exports in August – initially a 25 percent “reciprocal” tariff followed by an additional 25 percent – bringing the total up to 50 percent. These are among the highest imposed by the US on any of its trade partners.
New Delhi has been under heavy domestic pressure not to give in to US tariffs. Trump said in October that he spoke to Indian Prime Minister Narendra Modi on the phone, claiming the premier told him that India is “not going to buy much oil from Russia.”
India's economy minister said in September that New Delhi will continue importing Russian oil, refuting earlier reports that it was looking to reduce imports as a “concession” to Washington.
Putin’s trip to India comes after major US sanctions targeted Russian energy producers in October.
Sources cited by Bloomberg at the time said India is facing a potential “energy shock,” as the flow of Russian crude oil could drop dramatically due to the sanctions.