Russia offers India uninterrupted fuel as Modi–Putin unveil 2030 economic roadmap

Russia on Friday assured India of uninterrupted fuel supplies, with President Vladimir Putin declaring Moscow’s readiness to support India’s fast-growing energy needs even as Western sanctions intensify pressure on Russian oil flows.

“We are ready to continue uninterrupted shipments of fuel for the growing Indian economy,” Putin said at a joint press conference with Prime Minister Narendra Modi in New Delhi. He added that Russia remains a “reliable supplier of oil, gas, coal, and everything that is required” for India’s energy security.

The assurance comes as New Delhi faces mounting US pressure to reduce purchases of Russian crude. President Donald Trump imposed 50% tariffs on most Indian products earlier this year, citing India’s continued oil imports from Moscow.

Modi thanked Putin for his “unwavering commitment towards India,” calling energy security a “strong and important pillar” of bilateral ties.

Reiterating India’s position on the Ukraine conflict, PM Modi said New Delhi supports every effort toward a peaceful settlement.

“In recent days, whenever I have spoken with leaders of the global community … I have always said that India is not neutral. India has a clear position, and that position is for peace,” Modi said.

“The welfare of the world is only through the path of peace. India has always been ready to contribute its part and will remain so in the future.”

Putin thanked Modi for his diplomatic engagement, saying he had shared “very informative and useful” details about efforts to work with partners — including the United States — toward a possible resolution.

Modi announced that India and Russia had agreed on an Economic Cooperation Programme till 2030 aimed at expanding and diversifying trade.

“We are trying for an early conclusion of the FTA with the Eurasian Economic Union,” he said, adding that the two countries continue to pursue targets of $50 billion in mutual investments by 2025 and $100 billion in annual trade by 2030.

In 2023–24, bilateral trade reached $65.7 billion, led by India’s large crude oil imports. Moscow expects exports to India to rise again after temporary declines triggered by Western sanctions.

The leaders witnessed the signing of multiple agreements across key sectors:

A major industrial deal between Indian companies and Russia’s URALCHEM to set up a urea plant in Russia.

MoUs on fertilisers, food safety, consumer protection, ship training and maritime operations, involving bodies such as the FSSAI and Russia’s consumer watchdog.

A new agreement to deepen cooperation in ports and shipping, strengthening maritime logistics.

Modi said both countries would “cooperate closely on urea production,” describing the partnership as vital for India’s agricultural security.

Modi hailed the India–Russia relationship as a partnership that has “stood the test of time amid global uncertainty.”

“Humanity has faced many crises, and amidst all this, the India–Russia friendship has remained like a pole star,” he said.

Putin echoed the sentiment, calling the partnership “very deep and historical,” and highlighting cooperation in high technology, aviation, space, artificial intelligence, and military-technical collaboration.

Both leaders discussed global and regional issues, reaffirming cooperation against terrorism.

“Whether it is the terrorist attack in Pahalgam or the cowardly assault on the Crocus City Hall — the root of all these incidents is the same,” Modi said, calling for global unity against terrorism.

India and Russia also agreed to work together to train Indian seafarers in polar waters, boosting India’s presence in Arctic shipping routes.

Russia additionally agreed to join India’s International Big Cat Alliance, a global conservation initiative.

Putin arrived in New Delhi on Thursday evening, where Modi broke protocol to receive him at the airport.

The Russian President paid floral tributes to Mahatma Gandhi at Rajghat and was accorded a ceremonial welcome at Rashtrapati Bhavan.

He will attend a business forum and a banquet hosted by President Droupadi Murmu before departing later tonight.