Russia has expressed readiness to expand imports from India if New Delhi faces trade restrictions in the United States, even as the two countries push to raise bilateral trade to $100 billion by 2030.
“If Indian goods are facing difficulties entering the US market, the Russian market is welcoming Indian exports,” Roman Babushkin, Chargé d’Affaires of the Russian Embassy in India, told reporters in New Delhi on Wednesday.
The two sides are also exploring the use of national currencies to bypass Western sanctions, though rupee-rouble trade has faced hurdles due to India’s widening trade deficit with Russia.
A high-level Indian delegation is expected in Moscow this week, with rupee-denominated trade on the agenda, according to Bloomberg News. Russian President Vladimir Putin is also scheduled to visit New Delhi later this year.
Babushkin criticised the West for targeting India over its purchase of Russian crude, calling their stance “neocolonial” and “unjustified.”
“Hypothetically, if India refuses Russian oil, it will not lead to equal cooperation with the West in general. They behave like neocolonial powers that think of their own benefit. This pressure is unjustified and unilateral,” he said.
The comments come ahead of the US’s 25% tariff on Indian goods, set to take effect on August 27, in retaliation for India’s continued imports of Russian oil, which Washington argues help fund the war in Ukraine. European countries have also criticised New Delhi’s energy trade with Moscow.
India has repeatedly rejected such accusations, stressing that it will buy crude from the most economical source available.
Babushkin underscored the importance of energy cooperation, pointing to a recent phone call between President Putin and Prime Minister Narendra Modi amid tensions over tariffs and the war.
“We are capable of finding any solution for mutual satisfaction. The deepening of our partnership will help us grow together,” the Russian envoy said.
Following the Ukraine war in February 2022, India ramped up imports of discounted Russian crude. Moscow’s share in India’s total oil imports surged from just 1.7% in 2019–20 to 35% in 2024–25, making Russia India’s single largest oil supplier.