Russia Confident on Energy Trade with India
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Russia confident of continuing energy trade with India despite US pressure. India diversifying energy sources, guided by national interest.
Photograph: Carlos Garcia Rawlins/Reuters
Moscow, Oct 16 (PTI) Russia is confident that its energy cooperation with India will "continue", Deputy Prime Minister Alexander Novak said on Thursday, a day after US President Donald Trump claimed that New Delhi assured him to stop purchasing oil from Russia.
"We continue to cooperate with our friendly partners. Our energy resource is in demand. It is economically viable and feasible," Novak, who looks after Russia's energy sector, was quoted as saying by the independent Interfax news agency.
"....I am confident that our partners will continue to work with us, interact, and develop energy cooperation," he said.
Novak made the remarks in response to Trump's claim that Prime Minister Narendra Modi assured him that India would stop buying Russian crude.
The US president claimed that while India may not be able to cut the procurement immediately, the process has started.
"We're only seeing signals in the press today that our partners are declaring that no one can dictate to them, and that they will choose their own path," Novak said.
In response to Trump's oil trade claims, India on Thursday said it is "broad-basing and diversifying" its energy sourcing to meet market conditions, stressing that its import policies are guided entirely by national interest.
Russia is among the top suppliers of crude oil to India.
On Wednesday, Novak said that India is mainly paying for Russian oil in roubles, but has started payments in the Chinese currency yuan.
Traditionally reliant on Middle Eastern oil, India significantly increased its imports from Russia following the February 2022 invasion of Ukraine by Russian forces. Western sanctions and reduced European demand made Russian oil available at steep discounts.
In the first seven months of 2025, Russian crude oil exports amounted to 87.5 million tonnes, or 36.4 per cent of India's total imports, according to Interfax.
Russian President Vladimir Putin recently said that he had ordered the government to take steps to mitigate the trade imbalance with India.
"We continue to cooperate with our friendly partners. Our energy resource is in demand. It is economically viable and feasible," Novak, who looks after Russia's energy sector, was quoted as saying by the independent Interfax news agency.
"....I am confident that our partners will continue to work with us, interact, and develop energy cooperation," he said.
Novak made the remarks in response to Trump's claim that Prime Minister Narendra Modi assured him that India would stop buying Russian crude.
The US president claimed that while India may not be able to cut the procurement immediately, the process has started.
"We're only seeing signals in the press today that our partners are declaring that no one can dictate to them, and that they will choose their own path," Novak said.
In response to Trump's oil trade claims, India on Thursday said it is "broad-basing and diversifying" its energy sourcing to meet market conditions, stressing that its import policies are guided entirely by national interest.
Russia is among the top suppliers of crude oil to India.
On Wednesday, Novak said that India is mainly paying for Russian oil in roubles, but has started payments in the Chinese currency yuan.
Traditionally reliant on Middle Eastern oil, India significantly increased its imports from Russia following the February 2022 invasion of Ukraine by Russian forces. Western sanctions and reduced European demand made Russian oil available at steep discounts.
In the first seven months of 2025, Russian crude oil exports amounted to 87.5 million tonnes, or 36.4 per cent of India's total imports, according to Interfax.
Russian President Vladimir Putin recently said that he had ordered the government to take steps to mitigate the trade imbalance with India.
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