Overview

• Speaking at the Valdai forum in Sochi, Vladimir Putin directed the government and Russian businesses to craft measures to reduce the trade imbalance driven by India's imports of Russian crude.
• He outlined potential offsets that include increasing Russian purchases of Indian agricultural products and pharmaceuticals.
• Putin confirmed plans to visit New Delhi in December and described Prime Minister Narendra Modi as a wise leader who defends India’s national interests.
• He criticized U.S. tariff pressure tied to Russian oil sales and framed India’s energy decisions as a matter of national sovereignty.
• He cited financing, logistics and cross‑border payment bottlenecks as priorities to resolve and welcomed a proposal for a joint fund to develop AI and other advanced technologies.