Russian President Vladimir Putin has expressed that certain global powers are uneasy with India’s increasing influence in the global markets, particularly as India persists in purchasing Russian oil despite pressure from the West.
During an exclusive interview with India Today, Putin implied that recent trade actions by US President Donald Trump and apprehensions raised by Western nations regarding India’s Russian oil imports indicate concerns about India’s expanding economic sway.
Putin’s comments coincide with heightened enforcement of the Russian oil price cap by the United States and European allies. They have also issued cautions to countries, including India, about engaging with sanctioned tankers and intermediaries. Despite these measures, Putin emphasized the stability of the energy ties between India and Russia.
He highlighted that the recent pressures were more politically motivated than driven by supply and demand dynamics. Putin remarked, “The pressure you have mentioned usually involves using political tools to influence fair competition.”
Furthermore, Putin emphasized that the energy collaboration between the two nations has deep roots and is not influenced by short-term events. “Our energy partnership with India remains unaffected by current circumstances, temporary political fluctuations, or even the tragic events in Ukraine,” he stated.
Explaining the strong working relationship between Russian oil companies and Indian refiners established well before the Ukraine conflict, Putin mentioned a significant Russian investment in an Indian refinery, which marked one of the largest foreign investments in India exceeding 20 billion US dollars. This refinery’s growth over time has contributed to India emerging as a major supplier of refined products to Europe.
Putin pointed out that it took years to develop this partnership, which is not linked to the present economic climate, causing discomfort among certain entities. He noted, “Certain actors clearly resent India’s expanding role in global markets due to its ties with Russia. Consequently, they are endeavoring to limit India’s influence for political reasons by imposing artificial barriers.”
Additionally, Putin discussed India-China relations, stating that both Prime Minister Narendra Modi and President Xi Jinping are aware of the escalating tensions and are making efforts to resolve these issues. He emphasized Russia’s respect for their initiatives and clarified that Russia does not intend to interfere, as these matters are bilateral affairs between India and China.