Putin Affirms Russia's Commitment to Energy Supply for India
Russia's Energy Assurance to India
On Friday, President Vladimir Putin emphasized Russia's ongoing commitment to supplying energy to India. Amid increasing Western pressure regarding India's rising purchases of discounted Russian crude oil, Moscow reaffirmed its role as a key fuel partner for New Delhi. Speaking at a joint press conference with Prime Minister Narendra Modi following the 23rd India-Russia Annual Summit, Putin stated that Russia is dedicated to meeting India's rapidly growing energy demands.
Strengthening Bilateral Relations
Putin expressed gratitude to Indian President Droupadi Murmu, Prime Minister Modi, and all Indian partners for the warm welcome extended to the Russian delegation. He acknowledged the dinner hosted by Modi and reiterated Russia's readiness to ensure a steady fuel supply for India's expanding economy. He noted that both nations are gradually moving towards using national currencies for payments, with this share already reaching 96% in commercial transactions.
Trade Growth and Future Prospects
According to various statistics, Putin highlighted a 12% increase in bilateral trade over the past year, setting another record. This figure, while seemingly modest, amounts to approximately $64 billion. He anticipates that this year's results will remain at similarly impressive levels, with aspirations to elevate this figure to $100 billion. Modi has provided a comprehensive list of challenges that require the government's attention, and Putin assured that they would address these. The establishment of a free trade area between India and the Eurasian Economic Union is expected to bolster commercial ties between Russia and India, with ongoing efforts towards this agreement.
Nuclear Cooperation and Transportation Projects
Putin also mentioned ongoing projects related to the construction of the largest nuclear power plant in India, with three out of six reactors already connected to the energy grid. Collaborative efforts are underway with Indian partners to develop new international transport routes, including a project for a North-South transport corridor from Russia or Belarus to the Indian Ocean coast. Both nations are pursuing an independent and self-reliant foreign policy in alignment with like-minded countries within BRICS, SCO, and other global forums, while upholding the core principles of law as enshrined in the United Nations.
Support for BRICS and Military Cooperation
As founding members of BRICS, Russia and India have significantly contributed to enhancing the organization's authority and will continue to do so. With India set to assume the presidency of BRICS next year, Putin assured that Russia would provide all necessary support. For over half a century, Russia has assisted in arming and modernizing the Indian military, including air defense, aviation, and naval forces. Overall, he expressed satisfaction with the outcomes of the recent discussions, believing that the agreements reached would further deepen the strategic partnership between the two nations for the benefit of their peoples.