Putin Pledges Uninterrupted Oil to India, Questions US Policy Amidst $100 Billion Trade Goal
During the India-Russia summit, President Putin pledged uninterrupted energy supplies to India, asserting resilient ties despite U.S. sanctions. Both nations aim for $100 billion annual trade by 2030 and are pursuing a free trade agreement with the EAEU. Putin questioned U.S. tariffs on India over Russian oil, highlighting U.S. trade with Russia. India's PM Modi emphasized energy security, while the article noted past U.S. criticisms and tariffs from Donald Trump regarding India's Russian oil purchases.
Russian President Vladimir Putin reassured India of continued, uninterrupted energy shipments during his annual summit with Prime Minister Narendra Modi in Delhi. The leaders emphasized the resilience of their ties against external pressures, specifically defying U.S. sanctions policy. A significant outcome of the summit includes a finalized economic cooperation program targeting an ambitious $100 billion in annual trade by 2030, a substantial increase from the current $68.7 billion in fiscal year 2024-25. Additionally, both nations are actively working towards a free trade agreement between India and the Eurasian Economic Union (EAEU).Putin publicly challenged U.S. policy, questioning why India shouldn't have the same privilege to buy Russian fuel as the U.S. does with Russian nuclear fuel. This comes after former President Donald Trump had imposed 25% import tariffs on India over its Russian oil purchases, deeming it an act undermining sanctions. India's Ministry of External Affairs countered these criticisms by pointing out that nations criticizing India were themselves engaging in trade with Russia, citing U.S. imports of uranium hexafluoride, palladium, fertilizers, and chemicals from Russia. Trump had also previously accused India of reselling Russian oil for significant profits and expressed his displeasure over India's continued purchases. The article also notes the 25th anniversary of the Declaration on Strategic Partnership between India and Russia, established in October 2000. Despite U.S. pressure, the summit underscored a deepening strategic partnership focused on economic and energy security cooperation.
