India, Vladimir Putin and Russia
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The US president had hit India with a further 25% tariff over its purchases of Russian oil, arguing it was funding the war in Ukraine.
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.
The two countries’ reliance on each other in the energy sector is coming under strain.
Putin's visit to India for the 23rd summit highlighted a new economic cooperation program aiming for $100 billion in trade by 2030. The partnership is set to enhance sectors like defense, energy, and manufacturing while addressing geopolitical challenges.
India’s Relos deal with Russia marks a major step in widening its maritime reach, stretching its footprint from Chennai in the Indian Ocean to the icy edges of the Arctic. The agreement comes as both nations deepen defence cooperation during Putin’s recent visit to India.
India continues buying discounted Russian oil despite Western sanctions, then exports refined petroleum products to Europe, undermining restrictions.
Russia is working to co-opt part of India’s booming tech sector to forge a technological alliance to counter the West and boost its standing with China, in a campaign led by a former U.S.-based deep-cover spy, documents show.
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.