Putin says India risks if it stops buying Russian oil at political cost
By Anjali Sharma
WASHINGTON – Russian President Vladimir Putin on Friday has praised India’s continued import of Russian crude oil despite US sanctions, called Prime Minister Narendra Modi a “wise” leader who will not bow to American pressure.
Putin was speaking at the International Valdai Discussion Forum in Sochi, he said that the Indian people will never allow themselves to be humiliated by anyone.
“I know Prime Minister Modi; he will also not make any such decisions,” he said.
Putin emphasized that India’s decision to buy Russian oil is “purely an economic calculation” and that “there is no political aspect here.”
Trump had imposed 50 percent tariffs on India, the highest among major American trade partners, over its oil purchases from Russia.
He had also urged New Delhi to halt its energy trade with Moscow, claiming it fuels Russia’s war in Ukraine.
Putin argued that India stands to lose more if it stops purchasing Russian oil, as there would be an added domestic political cost.
“If India refuses our energy supplies, it will suffer certain losses. Estimates vary; some say it could be around USD 9–10 billion. But if it doesn’t refuse, sanctions will be imposed, and the loss will be the same. So why refuse if it also carries domestic political costs?” he asked.
“The losses faced by India due to punitive US tariffs would be balanced by crude imports from Russia, plus it will gain prestige as a sovereign nation,” he added.
He said that the people of India closely monitor decisions made by the political leadership and will never allow humiliation at the hands of anyone.
Putin highlighted the special Russia-India relationship dating back to the Soviet Union era when India was fighting for its independence from the British.
“In India, they remember this, they know it, and they value it. We appreciate that India has not forgotten it… We have never had any problems or interstate tensions with India. Never,” he noted.
He admitted that the trade deficit with India, Putin said that Russia may increase its purchase of agricultural products from India.
“Certain steps can be undertaken from our side for medicinal products, pharmaceuticals… We need to solve a whole range of tasks to unlock our opportunities and potential advantages,” he added.
