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The moderation, however, comes after three years of extraordinary expansion that reshaped bilateral trade.

The ministry said it was a necessary move "aimed first of all at funding defence and security."

PM Modi also said that his second visit to Russia in the last three months reflected "close" coordination and deep trust between the two countries.

Modi has visited both Moscow and Kyiv in recent months and reiterated his support for peace through dialogue and diplomacy and also reaffirmed India’s support for the same.

Modi in a post on X said the two leaders also discussed measures to further strengthen Special and Privileged Strategic Partnership between the two countries.

Once confirmed, this will be the first visit of PM Modi to Ukraine since their conflict with Russia began on February 24th, 2022.