Indian Prime Minister Narendra Modi and Russian President Vladimir Putin met in Tianjin, China, to reinforce their countries’ relationship amid rising tensions with the United States over India’s ongoing purchases of Russian oil. This meeting took place during the key session of the Shanghai Cooperation Organization (SCO) gathering and served as a platform for discussions centered on regional stability, bilateral trade, and energy cooperation.
In his opening remarks, Prime Minister Modi described the partnership with Russia as “special and privileged.” President Putin reciprocated by referring to Modi as a “dear friend,” emphasizing the long-standing friendship between the two nations. “Russia and India have maintained special relations for decades. Friendly, trusting. This is the foundation for the development of our relations in the future,” Putin stated. This camaraderie was evident as the leaders shared a light moment with Chinese President Xi Jinping during the summit.
Putin is scheduled to visit India in December 2024 for the 23rd India-Russia annual summit, as noted by his foreign affairs adviser, Yuri Ushakov. During the discussions, Modi expressed support for peace initiatives aimed at resolving the ongoing conflict between Russia and Ukraine, urging stakeholders to adopt a constructive approach.
The meeting was characterized by a significant one-on-one discussion between Modi and Putin, lasting nearly an hour before the formal talks began. They shared this conversation in an Aurus, a luxury Russian-made limousine often used by Putin during international trips. The camaraderie continued as they were photographed holding hands in front of the media.
This diplomatic engagement comes on the heels of new tariffs imposed by U.S. President Donald Trump, which raised duties on Indian imports by an additional 25 percent, totaling 50 percent. This move is part of Washington’s efforts to pressure India to reduce its purchases of discounted Russian oil, which U.S. officials argue is critical for funding Russia’s military actions in Ukraine. In response, India has maintained that its oil imports are vital for meeting the energy needs of its population of 1.4 billion.
Historically, India has sourced most of its crude oil from the Middle East. However, the ongoing conflict has led to a shift, with Russia now accounting for approximately 37 percent of India’s oil imports. According to analysts and Indian officials, trade between India and Russia reached a record $68.7 billion for the 2024-25 financial year. This includes around $64 billion in imports from Russia and approximately $5 billion in exports from India.
The two countries have set an ambitious target to increase bilateral trade to $100 billion by 2030. This meeting reinforces India’s commitment to its traditional strategic partnerships while showcasing its ability to navigate complex international relations, according to Sreeram Sundar Chaulia, an expert in international affairs at Jindal School of International Affairs in New Delhi.
Chaulia remarked that despite the current tensions with the U.S., India is hopeful that these issues are temporary. “Then, India can return happily to having the Russian cake and eating the American pie as part of its multi-alignment strategy,” he stated.
This latest engagement highlights the evolving dynamics of global energy politics and the intricate balancing act that nations like India must perform amid shifting alliances. As the geopolitical landscape continues to change, the partnership between India and Russia is poised to play a significant role in the region’s future.
