Amid US pressure on India to halt imports of Russian oil, Russia and India agreed to deepen cooperation in the energy sector—including oil and nuclear power — following the 23rd bilateral summit on December 5.
In a joint statement, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi said that ties between the two nations remain resilient despite external pressure.
They further emphasized that energy cooperation is a key component of both nations’ security, acknowledged untapped potential in areas such as oil and petroleum products, agreed to address challenges facing energy-sector investors, committed to expanding nuclear cooperation—including new Russian-designed nuclear reactors—and expressed interest in deepening collaboration on exploration and processing technologies for critical minerals and rare earths.
After the talks, Putin said at a press conference that “Russia is a reliable supplier of oil, gas, coal, and everything essential for India’s energy development,” stressing that “we are ready to continue supplying fuel without interruption to the rapidly growing Indian economy.”
Putin paid a state visit to India from December 4-5, his first visit in four years. Modi personally welcomed him at the airport, and the two leaders held a private one-on-one meeting.
According to India Today TV, ahead of the visit, Putin told “I am very pleased to meet my friend Prime Minister Modi,” adding “We share not only a professional relationship but also a personal bond.” He also questioned, “Why does the US continue to purchase Russian (enriched) uranium but block India from buying Russian oil?”
India is accelerating talks with the US to conclude a Phase 1 tariff agreement by year-end, while simultaneously deepening cooperation with Russia.
According to foreign reports, Russia is considering proposing joint production of the SU-57 fighter jet to India. Both sides pledged to expand trade volume and product categories. Bilateral trade rose from $13 billion in 2021 to $69 billion in 2022—a fivefold increase—and some reports say the goal is to reach $100 billion by 2030.
Kremlin aide Maxim Oreshkin mentioned, Russia conveyed its interest in significantly increasing imports of Indian consumer goods, food, agricultural products, pharmaceuticals, and telecommunications equipment. Piyush Goyal, minister of commerce and industry of India, likewise said India hopes to export a wider range of products to Russia, including automobiles, electronics, heavy machinery, and food items.
