The Kremlin has showered praise on India ahead of a visit by President Vladimir Putin — acknowledging the delicate diplomatic situation created due to continued purchase of Russian oil. Spokesperson Dimitry Peskov said Moscow was “proud to stand shoulder to shoulder with India during its historic growth” and voiced gratitude for its “very friendly stand” towards Russia.
“We cannot interfere in the diplomatic relations between the US and India. We understand that there is pressure over India. This is the reason we have to be careful in creating an architecture of the relationship that must be free of any influence coming from any third country…We know that India is very soverign in defining its national interests. We admire this characteristic of India,” said Kremlin spokesperson Dmitry Peskov.
India has found itself walking a diplomatic tightrope amid the Ukraine-Russia war — facing vehement criticism from the US over continued purchase of oil from Moscow. President Donald Trump also imposed a massive 50% tariff against New Delhi earlier this year and announced sanctions against various Russian oil producers. Top aides have also held New Delhi responsible for ongoing ‘bloodshed’ in Ukraine — claiming that India was indirectly financing the Russian war and being a “laundromat for the Kremlin”.
‘Decline in Russian oil imports may be temporary’
India has sought to reduce its dependence on Russian oil in recent months amid extensive pushback from the United States. Peskov told Indian journalists that the decline may last only for “a brief period” s Moscow plans to boost supplies to New Delhi. The South Asian nation is set to lower its Russian oil purchases to at least a three-year low this month following US sanctions against Russia-based Rosneft and Lukoil.
“There can be, for a very brief period of time, insignificant decreases in the volume of oil trade,” Reuters quoted Peskov as saying in response to a question about the impact of sanctions.
According to real-time data analytics company Kpler, Indian crude oil imports from the other country had averaged 1.8 million barrels per day (bpd) in November and accounted for more than 35% of its total crude import mix. New Delhi has seen its imports of Russian oil fell by nearly a third after stringent US sanctions on key Kremlin-linked exporters came into effect on November 21.
India, the world’s third-largest oil importer, emerged as the biggest buyer of discounted Russian crude after Western countries shunned Moscow following its February 2022 invasion of Ukraine. Traditionally reliant on Middle Eastern oil, India dramatically increased Russian imports as sanctions and reduced European demand made the barrels available at steep discounts, pushing its share from under 1 per cent to nearly 40 per cent of total crude imports.
Putin visit this week
Russian President Vladimir Putin will pay a state visit to India from December 4-5 at the invitation of Indian Prime Minister Narendra Modi. During the visit, Putin will attend the 23rd India-Russia Annual Summit and hold talks with PM Modi.The visit will provide an opportunity for the leadership of India and Russia to review progress in bilateral relations, outline the vision for strengthening the ‘Special and Privileged Strategic Partnership’, and exchange views on regional and global issues of mutual interest.