Russian President Vladimir Putin has strongly defended India's decision to continue importing oil from Moscow, while praising Prime Minister Narendra Modi and rebuking Washington for attempting to coerce New Delhi into stopping its energy imports from Russia.
In his speech at the Valdai Discussion Club in Sochi, Putin called Prime Minister Modi a "balanced and wise leader" and reiterated the close-historic relations between Russia and India.
He clarified that the purchase of Russian crude oil by India is without any political inclination, asserting it is purely an economic move.
“There is no political aspect here... If India refuses our energy supplies, it will suffer certain losses. Estimates vary; some say it could be around $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?” Putin explained.
Using his confidence in India's independent position, he said, "Of course, the citizens of a nation like India, believe me, will very carefully see the decisions taken by the political leadership and would never let any sort of humiliation before anyone. And then, I know Prime Minister Modi; he himself would never make any such steps."
His comments followed immediately after U.S. President Donald Trump, while addressing the United Nations General Assembly, accused India and China of indirectly funding the conflict in Ukraine by importing Russian oil.
Thereafter, Washington imposed an additional 25 percent duty on Indian goods in August, bringing the overall levy to 50 percent.
Putin also spoke of the historical diplomatic alliance between New Delhi and Moscow, remembering that their friendship dates back to India's struggle for freedom.
“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 remarked.
Calling Modi a personal friend, Putin spoke of the trust and comfort in their relationship, describing him as a “balanced, wise” and “nationally oriented” leader.
Economically, he recognized the trade deficit that exists between the two countries and stressed the necessity to diversify Indian exports to Russia.
Putin summed up by emphasizing that the special and strategic partnership of India and Russia, which is about to complete its 15th year, remains a pillar of their bilateral relations.
“More agricultural products may be purchased 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 said, while noting challenges in financing, logistics, and payments.
Putin summed up by emphasizing that the special and strategic partnership of India and Russia, which is about to complete its 15th year, remains a pillar of their bilateral relations.
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