Russian President Vladimir Putin has reiterated his strong support for Prime Minister Narendra Modi and stressed the strategic depth of India-Russia relations, even as the US ramps up pressure on New Delhi over its energy ties with Moscow.
President Donald Trump recently slapped 50 per cent tariffs on India, half of them for doing oil trade with Russia.
The move came as a pressure tactic on both India and Russia in a bid to stop the Kremlin's ongoing military conflict with Ukraine.
Calling Modi a "wise leader who thinks first about his country," Putin expressed confidence that India would not yield to Western pressure. He noted that India stands to lose either way, by abandoning Russian oil, it risks losing $9–10 billion annually, while defying sanctions could lead to similar financial setbacks.
"So why refuse if it also carries domestic political costs? [Indian people] will never allow themselves to be humiliated by anyone. I know Prime Minister [Narendra] Modi, he will also not make any such decisions," Putin said at the international Valdai discussion forum in South Russia. "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.
The Russian President also said measures were being devised to soften the trade imbalance between the two countries over high import of crude by New Delhi. “We are looking at increasing imports of Indian agricultural goods and pharmaceuticals,” he said.
He traced the Indo-Russian partnership back to the Soviet era, calling it a “privileged strategic partnership.” Putin stressed that the mutual respect and historical ties continue to form the bedrock of bilateral cooperation. “In India, they remember this, and we value that deeply,” he said.
(With inputs from Agencies)