Prime Minister Narendra Modi on Monday (August 31) urged Russian President Vladimir Putin to work towards ending hostilities in Ukraine as the two leaders met on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek. Energy security and bilateral economic ties assumed added importance amid heightened geopolitical tensions.
“Every day of war sets humanity back, we must work toward ending hostilities,” Modi told Putin during the meeting, reiterating New Delhi’s longstanding emphasis on diplomacy and negotiations to resolve the Russia-Ukraine conflict. The meeting was scheduled as part of a series of bilateral engagements around the two-day SCO summit being held in the Kyrgyz capital on August 31 and September 1.
Ukraine war and bilateral ties in focus
India has maintained a carefully calibrated position on the war since Russia launched its full-scale invasion of Ukraine in February 2022. While New Delhi has repeatedly called for peace and dialogue, it has stopped short of publicly condemning Moscow and has continued to expand economic engagement with Russia.
Meanwhile, Putin highlighted the strength of the bilateral relationship at the start of the talks. Russian news agency TASS had earlier reported, citing Kremlin aide Yury Ushakov, that Modi was among the Russian president’s key bilateral meetings in Bishkek and that the leaders were expected to discuss a range of important issues.
Energy security gains significance
The talks come at a particularly sensitive moment for India’s energy strategy. Russian crude has become a crucial part of India’s oil basket, while disruptions to supplies from the Middle East following the conflict involving Iran, Israel and the United States have increased the country’s reliance on alternative sources.
Russian oil accounted for more than half of India’s crude imports in July, at about 2.47 million barrels per day, according to trade data cited by Reuters. Imports from Russia had risen as disruptions in Middle Eastern supplies forced Indian refiners to look elsewhere for barrels. Russia remained India’s largest crude supplier in August, according to estimates from commodity intelligence firm Kpler.
The energy issue is also closely tied to India’s balancing of its relationships with Moscow, Tehran and Washington. Earlier on Monday, Modi met Iranian President Masoud Pezeshkian in Bishkek. According to the PMO, the two discussed the conflict in West Asia, with Modi calling for dialogue and diplomacy and stressing the need to protect freedom of navigation and commerce.
The Strait of Hormuz has emerged as a major concern for global energy markets after months of disruption to shipping following the US-Israeli conflict with Iran. Renewed exchanges of fire between the United States and Iran on Monday pushed oil prices above $90 a barrel.
Trade target comes with a widening imbalance
Economic ties are another major pillar of the Modi-Putin engagement. India-Russia bilateral trade stood at $59.86 billion in 2025-26, according to government data. However, the relationship remains heavily tilted towards Russian exports: India imported goods worth more than $55 billion from Russia during the year while its exports were under $5 billion.
The two countries are targeting $100 billion in bilateral trade by 2030, while India has identified correcting the widening trade imbalance as a key priority.
Against that backdrop, the Modi-Putin meeting goes beyond the traditional strategic partnership. It comes as India seeks to secure energy supplies, preserve its relationship with Russia and Iran and simultaneously manage an increasingly complex economic and strategic relationship with the Trump administration.