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Putin Promises Steady Oil Supply to India as Leaders Push Back Against U.S. Sanctions and Eye $100 Billion Trade Target

MarketDash Editorial Team
2 days ago
Russian President Vladimir Putin pledged uninterrupted energy shipments to India during Friday's annual summit in Delhi, where both leaders pushed back against U.S. sanctions pressure and set an ambitious $100 billion bilateral trade goal for 2030.

Russia isn't backing down from its energy partnership with India, and India isn't apologizing for it. That was the clear message from Friday's annual summit between Russian President Vladimir Putin and Prime Minister Narendra Modi in Delhi, where both leaders doubled down on their economic ties despite mounting U.S. pressure.

Energy Partnership Takes Center Stage

Putin made Russia's commitment crystal clear, telling reporters that his country stands ready as a reliable supplier of energy resources and everything needed for India's energy sector development. "We are ready to continue ensuring the uninterrupted supply of fuel for the rapidly growing Indian economy," he said.

Modi echoed the sentiment, stating that "energy security has been a strong and important pillar of the India-Russia partnership." The message to Washington was unmistakable: this relationship isn't going anywhere.

Trading Barbs Over Trade Policy

The energy partnership has become a political flashpoint. President Donald Trump slapped 25% import tariffs on India back in August over its Russian oil purchases, calling it sanction-undermining behavior. Trump has been vocal about his disapproval, previously accusing India of reselling Russian oil "on the Open Market for big profits" and stating bluntly that he "was not happy that India was buying oil."

India's response? Point out the hypocrisy. The Ministry of External Affairs noted that nations criticizing India "are themselves indulging in trade with Russia," specifically calling out U.S. imports of uranium hexafluoride, palladium, fertilizers, and chemicals from Russia.

Putin himself raised the same question in a pre-summit interview: "If the U.S. has the right to buy our [nuclear] fuel, why shouldn't India have the same privilege?"

Ambitious Trade Goals Ahead

Beyond the geopolitical sparring, the summit produced concrete economic commitments. Both countries finalized an economic cooperation program targeting $100 billion in annual trade by 2030, a significant jump from $68.7 billion in fiscal year 2024-25. They're also working toward a free trade agreement between India and the Eurasian Economic Union.

The timing is symbolic: this year marks the 25th anniversary of the Declaration on Strategic Partnership between India and Russia, established during Putin's state visit to India in October 2000. Both leaders made clear they view their ties as resilient to external pressure, sanctions policy be damned.

Back to News

Putin Promises Steady Oil Supply to India as Leaders Push Back Against U.S. Sanctions and Eye $100 Billion Trade Target

MarketDash Editorial Team
2 days ago
Russian President Vladimir Putin pledged uninterrupted energy shipments to India during Friday's annual summit in Delhi, where both leaders pushed back against U.S. sanctions pressure and set an ambitious $100 billion bilateral trade goal for 2030.

Russia isn't backing down from its energy partnership with India, and India isn't apologizing for it. That was the clear message from Friday's annual summit between Russian President Vladimir Putin and Prime Minister Narendra Modi in Delhi, where both leaders doubled down on their economic ties despite mounting U.S. pressure.

Energy Partnership Takes Center Stage

Putin made Russia's commitment crystal clear, telling reporters that his country stands ready as a reliable supplier of energy resources and everything needed for India's energy sector development. "We are ready to continue ensuring the uninterrupted supply of fuel for the rapidly growing Indian economy," he said.

Modi echoed the sentiment, stating that "energy security has been a strong and important pillar of the India-Russia partnership." The message to Washington was unmistakable: this relationship isn't going anywhere.

Trading Barbs Over Trade Policy

The energy partnership has become a political flashpoint. President Donald Trump slapped 25% import tariffs on India back in August over its Russian oil purchases, calling it sanction-undermining behavior. Trump has been vocal about his disapproval, previously accusing India of reselling Russian oil "on the Open Market for big profits" and stating bluntly that he "was not happy that India was buying oil."

India's response? Point out the hypocrisy. The Ministry of External Affairs noted that nations criticizing India "are themselves indulging in trade with Russia," specifically calling out U.S. imports of uranium hexafluoride, palladium, fertilizers, and chemicals from Russia.

Putin himself raised the same question in a pre-summit interview: "If the U.S. has the right to buy our [nuclear] fuel, why shouldn't India have the same privilege?"

Ambitious Trade Goals Ahead

Beyond the geopolitical sparring, the summit produced concrete economic commitments. Both countries finalized an economic cooperation program targeting $100 billion in annual trade by 2030, a significant jump from $68.7 billion in fiscal year 2024-25. They're also working toward a free trade agreement between India and the Eurasian Economic Union.

The timing is symbolic: this year marks the 25th anniversary of the Declaration on Strategic Partnership between India and Russia, established during Putin's state visit to India in October 2000. Both leaders made clear they view their ties as resilient to external pressure, sanctions policy be damned.