Russia commits to steady fuel deliveries for India’s booming economy, as President Vladimir Putin assured during a summit with Prime Minister Narendra Modi in New Delhi. Speaking at a joint press conference, Putin emphasized Russia’s role as a dependable provider of oil, gas, coal, and other resources essential for India’s growth.
This pledge arrives against US efforts under President Donald Trump to curb India’s Russian oil purchases through sanctions on firms like Rosneft and Lukoil, plus a 25% tariff on linked Indian imports. India, now Russia’s second-largest crude buyer after China, relies on discounted Russian oil—accounting for 38% of Moscow’s exports in October—to stabilize energy costs.
Both leaders signed deals boosting trade to $100 billion by 2030, including pacts on fertilizers, maritime logistics, and national currency settlements (now 96% of transactions). Modi hailed energy security as a “strong pillar” of ties, while Putin noted ongoing nuclear projects like Kudankulam.
The move underscores India’s strategic autonomy, balancing US relations with vital Russian energy and defense needs amid global tensions.