Overview
- Russian President Vladimir Putin met Prime Minister Narendra Modi in New Delhi for a state visit focused on expanding economic ties.
- Putin offered uninterrupted oil deliveries and described Russia as a reliable supplier of oil, gas and coal for India's growing energy needs.
- Both sides announced a target to lift annual trade to $100 billion by 2030 and agreed on an economic cooperation program through 2030 covering labor, health, shipping and chemicals.
- India has become a major buyer of Russian crude since the Ukraine war, taking about 36% of its oil imports in 2024, though recent purchases have eased under Western pressure.
- U.S. pressure featured prominently, with 50% tariffs on most Indian imports imposed in August, while Modi called Putin his friend and highlighted energy security as a pillar of the partnership.