New delhi: India has reacted with restraint after Russia offered to provide uninterrupted oil supplies to the country as it negotiates with the United States, which has imposed punitive tariffs on India for buying Russian oil. Indian Prime Minister Narendra Modi and Russian President Vladimir Putin held a press conference on Friday after the 23rd annual India-Russia summit in New Delhi. Modi described the partnership with Russia as a "guiding star" based on deep mutual respect and trust. The two sides agreed on a program of economic cooperation for the current period up to 2030, which will make trade and investment more diversified, balanced, and sustainable.
According to Thai News Agency, Putin stated that Russia was ready to ensure smooth and uninterrupted oil supplies to India. This followed a question he had previously asked the US during an interview with Indian media in Moscow before departing for a two-day official visit to India on December 4-5, 2025, questioning why India should not have such privileges if the US itself purchases fuel from Russia for use in its nuclear power plants.
Indian Foreign Minister Vikram Meesri later reserved his stance when answering a media question about whether India would continue to buy Russian oil, stating that the Indian government's priority is to supply energy to meet the needs of its 1.4 billion people. While Indian energy companies make oil purchase decisions based on market dynamics and ongoing trade issues, energy cooperation with Russia will continue within this framework.
India has been a major buyer of Russian oil for decades and rose to the top after Western nations imposed sanctions on Russian oil over its war in Ukraine. However, India has significantly reduced its purchases since US President Donald Trump announced in August a 50% tariff on Indian imports, arguing that India's discounted oil purchases from Russia are helping Russia finance its war in Ukraine.
In a joint statement released after the India-Russia summit, the two leaders reiterated the special and privileged strategic partnership established since the Declaration of Strategic Partnership between the two countries was announced during Putin's first official visit to India in October 2000. The statement outlined diplomatic cooperation, boosting bilateral trade to US$100 billion by 2030, cooperation in energy sectors including oil, gas, and nuclear power, space, science and technology, military cooperation and counter-terrorism, multilateral cooperation and addressing global and regional issues, and people-to-people exchanges. The Russian leader also invited Prime Minister Modi to attend the 24th India-Russia annual summit in Russia next year.