Ahead of the crucial India-Russia annual summit, Moscow has delivered a strong message of reassurance to New Delhi, asserting that Western sanctions will have only a minimal impact on the vital oil trade between the two nations. The Kremlin's statement comes as both countries prepare for high-level talks aimed at fortifying their economic partnership against external pressures.
Sanctions to Cause Only 'Insignificant' Disruption
In a media briefing, Kremlin spokesperson Dmitry Peskov addressed the looming shadow of sanctions against Russian companies. He confidently stated that any potential drops in the volume of oil trade would be "insignificant" and "for a very brief time." Peskov emphasized Russia's extensive experience in operating under what he termed an "illegal sanctions regime," leveraging available technologies to ensure continuity.
"We do not accept these limitations, and we are doing our best to ensure that we continue our trade and that our purchasers enjoy guaranteed supplies of oil and oil products. We are managing that quite successfully," Peskov affirmed. He stressed the shared goal of both nations to find effective mechanisms that prevent a decline in trade volumes.
Strengthening Bilateral Ties Amid External Pressure
The upcoming summit between Prime Minister Narendra Modi and President Vladimir Putin is set against a backdrop of sustained pressure from the United States and the European Union. These Western powers have urged India to reconsider its energy imports from Russia. Notably, the US has imposed an additional 25% tariff on certain countries, including India, for purchasing Russian oil.
Peskov highlighted the foundational strength of the India-Russia relationship, built on a historical context of mutual understanding and a shared vision for a global order based on international law. "And mutual vision of global affairs & a system of global affairs based on international law, rule of law and ability to take into account each other’s interests," he added. A core objective for both sides is to make their economic partnership "immune to pressure from third countries" that seek to create obstacles.
Addressing Trade Imbalance and Future Goals
While Russia is ambitiously targeting a $100 billion bilateral trade target with India by 2030, Moscow acknowledges New Delhi's significant concerns regarding the substantial trade deficit currently in Russia's favor. Peskov confirmed that this issue is recognized as a "problem" and that both governments are actively collaborating to find solutions and rebalance the trade equation.
The Kremlin's clear message underscores a strategic commitment to shield the India-Russia trade partnership, especially in the critical energy sector, from geopolitical crosscurrents. The upcoming summit is expected to yield concrete steps to deepen economic cooperation and ensure its resilience.
