Moscow: Russian President Vladimir Putin on Thursday strongly defended India’s decision to continue purchasing Russian oil, praising Prime Minister Narendra Modi as a “balanced and wise leader” while criticizing US attempts to pressure New Delhi into halting its energy imports.
Speaking at the Valdai Discussion Club in Sochi, Putin stressed that India’s oil trade with Russia was driven purely by economics, not politics.
“There is no political aspect here... If India refuses our energy supplies, it will suffer certain losses. Estimates vary; some say it could be around $9-10 billion. But if it doesn't refuse, sanctions will be imposed, and the loss will be the same. So why refuse if it also carries domestic political costs?” he said.
He expressed confidence that India would not yield to external pressure, remarking, “Of course, the people of a country like India, believe me, will closely monitor the decisions made by the political leadership and will never allow any humiliation in front of anyone. And then, I know Prime Minister Modi; he himself would never take any steps of this kind.”
Putin’s remarks came days after US President Donald Trump told the UN General Assembly that India and China were financially supporting the Ukraine war through continued oil purchases from Moscow. In retaliation, Washington imposed an additional 25 per cent tariff on Indian goods in August, doubling duties to 50 per cent.
Highlighting historical ties, Putin said Russia and India had never faced interstate tensions. “In India, they remember this, they know it, and they value it. We appreciate that India has not forgotten it... We have never had any problems or interstate tensions with India. Never,” he said.
Calling Modi a “friend” with whom he shares a comfortable and trustworthy relationship, Putin described him as “balanced, wise and nationally oriented.”
On the issue of trade imbalance, Putin acknowledged the need to expand Russian imports from India, especially agricultural produce and pharmaceuticals, while identifying financing, logistics and payment systems as areas requiring improvement.
He also noted that the special strategic partnership between the two countries is nearing its 15th anniversary, reaffirming Moscow’s commitment to strengthening ties with New Delhi.