Putin assures India of uninterrupted supply of energy

Moscow, Russia witnessed a significant meeting between External Affairs Minister S Jaishankar and President Vladimir Putin on Monday, as the two nations assured each other of uninterrupted energy and fertiliser supplies amidst global disruptions. The meeting also saw Jaishankar co-chair a session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), ahead of President Putin's expected visit to New Delhi for the BRICS leaders' summit.

Jaishankar reported that India and Russia's economic cooperation had quadrupled in the last five years, growing from around $13 billion in 2021-22 to nearly $60 billion in 2025-26. However, he expressed concern over the widening trade imbalance, which had escalated from $6.6 billion in 2021-22 to over $50 billion in 2025-26. The two leaders discussed ways to address this imbalance, with Jaishankar proposing increased focus on market access, removal of tariffs and non-tariff barriers, and strengthening payment mechanisms.

President Putin assured India of uninterrupted energy and fertiliser supplies, reiterating the country's commitment to meeting the needs of Indian farmers and the agricultural sector. He also highlighted the growing trade between the two nations, noting that it had increased this year after a slight decline last year. Both leaders expressed their satisfaction with the progress of cooperation and underscored the depth of their bilateral partnership.