Oil, Arms, and Diplomacy: Key Takeaways from Putin's Visit to India

Vladimir Putin arrived in India on Thursday, expressing that the country's cooperation is of "immense" significance, particularly in light of the tariffs imposed by Donald Trump in response to its purchases of Russian oil amid the ongoing invasion of Ukraine.

Putin, who hadn't visited New Delhi since 2021—the year before the military offensive he ordered in Ukraine—was greeted at the airport by Indian Prime Minister Narendra Modi. In the evening, they were scheduled to have a private dinner ahead of their official talks on Friday.

Accompanied by his Defense Minister, Andrei Belooussov, who was expected to discuss potential agreements on fighter jets and air defense systems, Putin stated he was "very happy" to see his "friend" Narendra Modi, in an interview with India Today prior to his departure.

"The scope of our cooperation with India is immense," he emphasized, highlighting sectors such as shipbuilding, aerospace, nuclear energy, and space exploration.

The Russian leader also noted that ongoing negotiations with the United States regarding Ukraine are "a complex task, a challenging mission that President Trump has taken on himself." He added, "Reaching a consensus between conflicting parties is not easy, but I believe President Trump is sincerely working towards this goal," and concluded, "I think we should engage in this effort rather than obstruct it."

Narendra Modi, for his part, expressed his pleasure in welcoming his "friend, President Putin." "I look forward to our discussions tonight and tomorrow," he wrote on X.

"The Indo-Russian friendship is a time-tested bond that has greatly benefited our peoples," stated the Indian Prime Minister, sharing a photo of them taken in the car during their transport.

Here are the main topics on the agenda for their discussions:

Oil

India is one of the main importers of Russian oil, in contrast to Western nations that have imposed retaliatory measures in this area due to the war in Ukraine.

In 2024, Russia supplied Indian refineries with 36% of the crude oil they used, according to the trade information platform Kpler.

India, which imports 85% of the oil it consumes, has found a way to fill its reserves at favorable prices. However, in August, the United States penalized it with a 50% tariff on its exports, claiming that these purchases finance the Russian war effort in Ukraine.

Donald Trump asserted that Narendra Modi had promised to renounce Russian oil amid trade negotiations between their two countries. New Delhi has not confirmed this. However, recent statistics indicate that Russian crude deliveries to India have decreased.

"We have no doubt that these exchanges benefit India significantly and are advantageous for both parties," noted Kremlin spokesperson Dmitry Peskov before Putin's trip.

Defense

Although India has recently turned to other suppliers, including France, and favors weapons produced domestically, Russia remains one of its primary sources of military equipment.

According to the Stockholm International Peace Research Institute (SIPRI), the share of Russian equipment in India's arsenal has decreased from 76% during the 2009-2013 period to 36% in 2019-2023.

Learning from the military confrontation with Pakistan in May, New Delhi has shown interest in purchasing new Russian S-400 surface-to-air missiles.

"There is no doubt that this topic will be discussed during the visit," Peskov stated.

Indian media have also highlighted the Indian Army's interest in the fifth-generation Russian fighter jet, the Su-57.

Trade

Russia is India's fourth-largest trading partner, with bilateral trade reaching a record $68.7 billion in the 2024-2025 fiscal year, according to official statistics.

However, their relationship remains heavily imbalanced. Over 90% of this amount—$63.8 billion—comes from Indian imports, primarily hydrocarbons.

In return, India mainly sells machine tools and pharmaceuticals to Russia.

"We want to diversify our trade and work towards rebalancing it," disclosed a senior Indian diplomat speaking on the condition of anonymity.

"Our intention is to maintain and even increase the volume of our bilateral exchanges," Dmitry Peskov added, "without letting anyone else interfere."

Diplomacy

The same Indian diplomat considers that the relations between his country and Moscow are "the most stable in modern times."

To date, India has avoided openly condemning the invasion of Ukraine while successfully maintaining its ties with both Europe and the United States.

Narendra Modi has rarely raised his voice against Vladimir Putin on this issue, except in 2022 during a meeting in Uzbekistan when he called for an end to the war "as quickly as possible."

He has since repeatedly emphasized his commitment to a "multipolar" world order and resisted Western pressures to distance himself from Russia.