New Delhi, Aug 20 (NationPress) The Deputy Ambassador of the Russian Federation to India, Roman Babushkin, confirmed on Wednesday that crude oil exports from Russia to India will maintain their stability despite the ongoing global sanctions and trade challenges.

Speaking to reporters at the Russian Embassy in New Delhi, Babushkin stated, “In light of the current circumstances and changing conditions, Russia’s crude oil exports to India are projected to stay consistent. There is simply no substitute for Russian oil, as it remains competitively priced and yields significant profit margins.”

The Deputy Ambassador emphasized that trade between Russia and India has escalated nearly sevenfold in recent years, with Russia supplying approximately 250 million tonnes of oil to India annually, typically offering an average discount of five percent based on negotiations.

He remarked that the 18th package of EU sanctions did not affect Russia’s oil trade with India. When posed with a hypothetical scenario regarding India potentially ceasing imports of Russian oil, the diplomat asserted, “I don’t foresee that ever occurring,” underscoring that crude oil is a crucial element of their bilateral trade, alongside chemicals and fertilizers.

Babushkin added, “In times of greater pressure, we observe enhanced cooperation,” highlighting the strong trade growth within BRICS. He also discussed the broader dimensions of India–Russia relations, referencing collaborations in energy, nuclear power, culture, and infrastructure, as well as the ongoing diplomatic interactions.

He mentioned that Prime Minister Narendra Modi and President Vladimir Putin have had two discussions this month, and that External Affairs Minister S. Jaishankar is currently in Moscow to co-chair the Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation, in addition to meeting with Russian Foreign Minister Sergei Lavrov.

Regarding Putin’s planned visit to New Delhi later this year, Babushkin stated that specific dates have yet to be finalized.

Babushkin reiterated that sanctions only exacerbate global instability, and emphasized Russia’s commitment to fortifying its “special strategic partnership” with India.