Overview

• Speaking at the Valdai forum, Vladimir Putin praised Narendra Modi as a “wise” leader and said Modi would not bow to foreign pressure over Russian energy.
• Putin estimated India would forfeit about $9–10 billion if it halted Russian crude, arguing there is “no reason” to comply with U.S. demands.
• Russia will seek to narrow the trade gap by increasing imports of Indian agricultural goods and pharmaceuticals, with Putin signaling steps ahead of a planned December visit to India.
• The U.S. has lifted tariffs on Indian goods to roughly 50 percent in measures reported as linked to India’s Russian oil purchases, with trade talks frozen.
• Industry and vessel‑tracking data show U.S. crude shipments to India fell by about 40 percent in August–September versus July, while Indian officials say energy buys remain guided by price, including potential increases from the U.S.