Responding to queries on bilateral trade, MEA spokesperson Randhir Jaiswal said the partnership between the two countries remains active and wide-ranging.
“India and Russia have ongoing engagement and cooperation across a range of issues, from trade to people-to-people and cultural interactions, defence engagement, and more. All these aspects of our bilateral relationship continue to grow,” he said while addressing a press conference.
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The remarks come against the backdrop of renewed scrutiny over India’s energy engagement with Russia after the India-US trade pact emerged as a push to New Delhi to redirect its oil purchases to Washington and possibly, Venezuela.
US President Donald Trump had slapped a 25% additional tariff on Indian imports into America over and beyond a 25% existing additional tariffs owing to New Delhi’s crude oil trade with Moscow.
A move, the Republican President said recently will be revised by the PM Modi-led Central government upon signing of the India US trade agreement which cuts down tariffs on India to 18%.
India-Russia trade secure?
In Moscow though, the sentiment is different.
Russian Foreign Ministry spokesperson Maria Vladimirovna Zakharova said there was “no reason to believe” that India would reconsider its approach to energy cooperation with Russia. According to Russian state media, she described trade in energy resources as mutually beneficial and stabilising for the international market.
Kremlin spokesperson Dmitry Peskov echoed that view, noting that Russia is not India’s only oil supplier and that New Delhi has consistently sourced petroleum products from multiple countries.
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Commerce and Industry Minister Piyush Goyal reiterated that energy security remains the government’s foremost priority.
He said India’s strategy is guided by the need to ensure stable supplies for its 1.4 billion citizens, with diversification of sourcing shaped by market conditions and evolving global dynamics.
However, according to a report by Bloomberg News, India’s crude imports from Russia are set to decline sharply following the US executive order linked to the bilateral trade deal.
Refiners including Indian Oil Corporation, Bharat Petroleum Corporation Limited and Reliance Industries Limited have paused fresh spot purchases, with overall volumes likely to fall from about 1.2 million barrels a day in January to nearly half that level, as companies reassess supply strategies amid tariff pressures.