india
India is exploring ways to increase its exports to Russia, including by encouraging rupee-ruble trade and pushing Moscow to remove non-tariff barriers, after Indian Prime Minister Narendra Modi met Russian President Vladimir Putin, Reuters reported on July 15. Growing Russian exports to India accounted for $61.43 billion of the $65.7 billion trade between the two states in the last fiscal year ending in March. While trade between the two countries grew by one-third year-on-year, Indian exports of pharmaceuticals, machinery, and other goods to Russia remained almost unchanged. "When we are look...
Kyiv Independent (UK)
India's state-run refiners are in talks with Russia about a long-term oil import deal, Reuters reported on July 11, citing an undisclosed government source. India became one of the chief buyers of Russian oil following Western sanctions, although pressure from U.S. sanctions increasingly threatens this trade. India and Russia need to finalize agreements, such as the payment currency for the imports, the source told Reuters. Indian private refiners may also join the negotiations. Indian private refiners Reliance Industries and Nayara Energy, partially owned by Russia's state-controlled oil comp...
Kyiv Independent (UK)
As world leaders gathered in the U.S. capital for the NATO summit, Indian Prime Minister Narendra Modi traveled to Moscow to meet Russian President Vladimir Putin. It was Modi's first visit to Russia not just since Putin ordered the full-scale invasion of Ukraine in 2022 but also since 2019. The visit follows the recent failure of Ukraine’s peace summit in Switzerland, where India’s participation was limited to an administrative level. The peace summit came just days after Modi returned to power in India with a reduced mandate, dependent on fickle allies for a parliamentary majority. His gover...
Kyiv Independent (UK)
Ukraine's global peace summit concluded on June 16 with 78 countries and five institutions signing a joint communique so far. While 92 countries participated in the summit, several key countries declined to ultimately sign the communique. Since the original document was released, three countries—Rwanda, Iraq, and Jordan—have seemingly withdrawn their signatures. Notably absent from the list of countries that signed the document were India, Indonesia, Brazil, Mexico, and the majority of the Global South. China, a key Russian ally, declined to take part in the summit. More than half of the commu...
Kyiv Independent (UK)
India's imports of Russian oil rose to a nine-month high after shipments from non-sanctioned tankers of the Russian Sovcomflot company resumed, Reuters reported on May 21, citing data from shipping and trade sources. Indian buyers briefly stopped accepting shipments from Sovcomflot earlier this year after the U.S. designated the company and 14 of its tankers as in breach of sanctions. India has become a key buyer of Russian oilafter Western trade restrictions, imposed over Russia's full-scale invasion of Ukraine, forced Moscow to pivot to other markets. Reuters wrote that in the first month of...
Kyiv Independent (UK)
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