Amid tensions in West Asia and turmoil in global energy markets, Russia has offered to increase supplies of crude oil and natural gas to India. First Deputy Prime Minister of Russia Denis Manturov held high-level meetings during his visit to New Delhi. He Ajit Doval, S. Jaishankar, Nirmala Sitharaman and met Prime Minister Narendra Modi.
Energy cooperation was a major issue in these meetings. According to the Russian statement, the companies there have the capacity to continuously increase the supply of oil and liquefied natural gas (LNG) to India. The initiative comes at a time when the West Asia crisis has affected the global oil and gas market. The situation has become more serious due to the disruption of supply, especially in the Strait of Hormuz. This seaway handles about a fifth of the world's oil and LNG flows. India derives a large portion of its energy needs from this sector, which has directly affected it from this volatility.
In the India-Russia Intergovernmental Commission meeting (Meeting of the Intergovernmental Commission), the two countries also discussed trade, industrial cooperation and investment opportunities. It has been said from Russia that, in the current situation, emphasis has been placed on creating favorable conditions for increasing bilateral trade. Apart from energy, Russia informed about the progress made in the supply of fertilizers and said that by the end of 2025, the supply to India has increased by 40 percent.
Along with this, the desire to meet India's demand has been expressed in the future as well. According to India's Ministry of External Affairs, the talks covered several areas such as trade, energy, fertilisers, connectivity, technology, innovation and critical minerals.
The two sides also reviewed the progress of the 23rd India-Russia Annual Summit held in December, during which Vladimir Putin visited India and set a target of raising bilateral trade to $100 billion by 2030. The meetings also discussed global and regional issues, including the situation in West Asia. Russia also emphasized the possibility of increasing cooperation with India in civil nuclear energy.
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