This move underscores the personal rapport between Putin and Indian Prime Minister Narendra Modi, who welcomed him with a warm airport reception and a rare hug.
By Asaye Bankole
Russian President Vladimir Putin has arrived in New Delhi for a two-day state visit, aiming to strengthen ties between Russia and India. During his visit, Putin questioned the US stance on India’s oil purchases from Russia, highlighting that Washington still imports Russian nuclear fuel.
This move underscores the personal rapport between Putin and Indian Prime Minister Narendra Modi, who welcomed him with a warm airport reception and a rare hug.
The visit is expected to focus on enhancing trade and defence ties, with discussions on labour mobility, Arctic shipbuilding, and potential defence deals, including the S-400 air defence system and Sukhoi-57 fighter aircraft.
The two leaders will also explore ways to increase bilateral trade, targeting $100 billion by 2030.
Putin’s visit comes amid pressure from the US and Europe over India’s ties with Russia, particularly regarding oil purchases. India has become Russia’s top oil buyer, with imports reaching $52.7 billion in 2024.
Indian refiners have benefited from buying discounted Russian crude, saving around $12.20 per barrel. However, this has led to a 50% tariff imposed by the US on Indian goods in retaliation. Recent US sanctions on major Russian oil producers have also forced Indian refiners to reduce their purchases.
Reliance, India’s largest private refiner, has announced it will stop exporting petroleum products made from Russian crude. This comes as Russia’s President Vladimir Putin and India’s Prime Minister Narendra Modi are set to hold formal summit talks, aiming to boost bilateral trade and cooperation.
The two leaders are expected to announce agreements on defence, shipping, healthcare, and labour mobility. Russia is pushing to sell India additional S-400 missile defence systems and Su-57 stealth fighter jets, with both sides aiming to reach $100 billion in bilateral trade by 2030. However, this target now appears challenging due to declining oil imports.
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