Is India Buying Fuel Where It Is Profitable?
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Synopsis
Russia's Press Secretary, Dmitry Peskov, affirms India's strategy of purchasing energy resources that align with its economic interests, emphasizing the continuation of this policy post-Putin's state visit. With a focus on strengthening the bilateral partnership, both nations are advancing their cooperation across multiple sectors.
Key Takeaways
- India prioritizes energy purchases where it finds economic benefits.
- Russia is committed to providing uninterrupted fuel supplies.
- Transition to national currencies strengthens trade relations.
- Significant agreements were signed during Putin's visit.
- India-Russia relations continue to deepen across strategic domains.
Moscow, Dec 8 (NationPress) Dmitry Peskov, the Press Secretary for Russian President Vladimir Putin, stated on Monday that India is acquiring energy resources where it finds them advantageous. He mentioned that this approach will persist following Putin's recent state visit to India.
During a media briefing, Peskov expressed, "India, as a sovereign nation, conducts foreign trade and procures energy resources that serve its interests," as reported by Tass.
He further noted, "Our Indian partners are expected to uphold this strategy to safeguard their economic objectives," in response to inquiries about New Delhi's ongoing fuel purchases from Moscow, as per Tass.
After wrapping up discussions with Prime Minister Narendra Modi in New Delhi, Putin emphasized that Russia is a dependable supplier of energy resources to India, ensuring uninterrupted fuel supplies for the nation’s flourishing economy.
He expressed gratitude towards PM Modi for the warm hospitality received, asserting a strong working relationship and personal rapport with the Indian leader, as they jointly monitor the progression of Russian-Indian cooperation across various strategic domains.
Putin remarked, "It is gratifying to observe both nations progressively shifting to national currencies for mutual settlements, which currently account for 96% of commercial transactions. We have established robust channels for interbank credit and financial collaboration, with Russian businesses increasingly utilizing Indian rupees earned through export contracts.
"Major joint ventures are funded in Russian rubles. Our energy partnership is thriving. Russia stands as a reliable source of energy resources essential for India's energy sector development, and we are committed to ensuring uninterrupted fuel supplies for the rapidly expanding Indian economy," he stated following extensive talks with PM Modi at the Hyderabad House during the 23rd India-Russia Annual Summit.
Throughout their meeting, both leaders deliberated on all facets of India-Russia relations, which remain deeply rooted and multi-dimensional, reaffirming their mutual dedication to further enhancing the Special and Privileged Strategic Partnership between the two nations while also addressing regional and global issues of shared interest.
Putin indicated that both parties meticulously reviewed the comprehensive scope of current matters concerning Russian-Indian cooperation and exchanged insights on urgent global and regional challenges.
"The joint statement adopted with Mr. Modi delineated priority goals for advancing ties in political and security matters, economics, trade, humanitarian affairs, and cultural exchanges. A significant package of intergovernmental, interdepartmental, and corporate agreements was also signed," he remarked.
The leaders oversaw the exchange of numerous documents, including Memorandums of Understanding (MoUs) regarding Trade and Commerce; Migration and Mobility; Maritime Cooperation; Health and Food Safety; Fertilizers; Academic Exchanges; Media Cooperation; and enhancing People-to-People connections.
Point of View
It is essential to recognize the evolving dynamics of India-Russia relations. The affirmation of India's sovereignty in energy procurement not only strengthens its economic stance but also highlights the importance of strategic partnerships in today's geopolitical landscape. The ongoing collaboration between these two nations serves as a testament to their commitment to mutual growth and stability.
NationPress
09/12/2025
Frequently Asked Questions
Why is India purchasing energy resources from Russia?
India is acquiring energy resources from Russia where it finds them economically advantageous. This approach aligns with India's strategy to ensure its energy security and economic interests.
What did Putin say about energy supplies to India?
Putin emphasized that Russia remains a reliable supplier of energy resources to India and is committed to ensuring uninterrupted fuel supplies for India's growing economy.
What agreements were signed during Putin's visit to India?
Several significant agreements were signed, including Memorandums of Understanding on Trade and Commerce, Maritime Cooperation, Health and Food Safety, and enhancing People-to-People ties.
How are India and Russia transitioning in trade?
Both nations are increasingly transitioning to national currencies for mutual settlements, with 96% of their commercial transactions now conducted in their respective currencies.
What is the significance of the India-Russia Annual Summit?
The India-Russia Annual Summit serves as a platform to discuss and enhance the multifaceted relationship between the two countries, focusing on strategic cooperation in various sectors.
