Vladimir Putin, India and Russia
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India's Oil and Natural Gas Corp will pay into Russia's Sakhalin-1 oil and gas field abandonment fund in roubles, using Indian companies' frozen dividends to retain its 20% stake in the project, three sources familiar with the matter said.
The United States itself still buys nuclear fuel from us for its own nuclear power plants. That is also fuel,” Russian President Vladimir Putin said during his first visit to India in four years.
India’s imports of Russian crude are expected to plunge to a near four-year low early next year, after months of US pressure. As workarounds emerge and the Kremlin cranks up its own charm offensive, however,
As the White House tries to curb Moscow's energy income, Vladimir Putin enjoys a warm welcome in India, and promises an "uninterrupted supply" of Russian fuel.
Moscow is eager to prevent India’s oil purchases from falling back to near zero—their level before the war. Oil is one of the Kremlin’s largest sources of revenue. India, a net importer of oil, relies on Russia for more than a third of its oil imports, up from just 2% before the war.
A former Pentagon official has offered an unusual assessment of Russian President Vladimir Putin’s India visit, arguing that Donald Trump and not Moscow deserves credit for the warm reception in New Delhi, calling it “Nobel Prize” worthy.
The report shows that even though bilateral trade is touching $70 billion, India's exports stay below $5 billion while imports from Russia remain dominated by crude oil.