The Russian Embassy in India on Wednesday said that Moscow aims to narrow the trade imbalance with New Delhi and continue energy supplies while seeking to remove trade barriers, Reuters reported.
The embassy noted that mechanisms are already in place to ensure the steady flow of oil to India despite the political situation.
India has become one of the largest buyers of Russian crude since 2022, even as Western sanctions altered global oil trade flows. The statement also comes as India’s External Affairs Minister S Jaishankar is on a 3-day visit to Moscow.
“India matters very much to Russia. We understand the challenging circumstances for India, and we are committed to remove them,” said Roman Babushkin, Chargé d’Affaires of the Russian Embassy in India. “Mechanisms are there to continue oil supplies to India. We will remove further barriers to trade,” the Russian embassy official said, adding that bilateral trade is expected to grow about 10% annually.
He added that oil shipments will continue at approximately the same level, highlighting their importance to bilateral trade. “There is no alternative to Russian crude oil as it is very competitive. India understands there is no chance to change supplies, profit [is] very high for India,” the embassy said.
Babushkin also commented on the recent US move to impose 50% tariffs on Indian goods. “If Indian goods are facing difficulties entering the US market, the Russian market is welcoming Indian exports,” he said.
Embassy noted that India is the fourth largest trade partner for Russia and further underlined that energy shipments will remain at roughly the same level going forward.
“We have always managed to find ways to work in our interests despite issues. Sanctions are double standards and disrespect national interests,” the embassy added.
The official also stressed the need to improve payment mechanisms with India.
