India-Russia Ties

The US first provided a green light in March, and then widened that with an authorization that runs until May 16, in an effort to limit rising oil prices with additional barrels

New Delhi has signed critical minerals agreements with Argentina, Australia and Japan, and is in talks with Peru and Chile on broader bilateral agreements that also include critical minerals

The stance highlights the fine balance the world's third-biggest oil importer and consumer is seeking ‌to strike between securing energy supplies and avoiding LNG cargoes under sanctions

Both sides reviewed existing engagements and discussed expanding cooperation across the steel value chain and related industries, according to an official statement

Imports from Russia averaged 1.98 million barrels a day in March, the highest since June 2023, according to data from intelligence firm Kpler

The effective closure of the Strait of Hormuz - and attacks on the world's largest LNG export plant in Qatar - has throttled about a fifth of global supply, upending the gas market and lifting prices

Russia's First Deputy Prime Minister Denis Manturov on Thursday called on Prime Minister Narendra Modi and discussed ways to strengthen bilateral ties in areas of investment, energy and industrial cooperation. Manturov, on a two-day visit to India, also held talks with External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval. The Russian embassy said Modi and Manturov discussed "specific steps to implement agreements reached" during the India-Russia summit held in December last. "Particular attention was paid to further strengthening Russia-India trade, economic, investment, energy and industrial cooperation," it said on social media. In their meeting, Doval and Manturov were learnt to have discussed bilateral defence cooperation besides the evolving regional security situation. The Russian first deputy PM's visit to New Delhi comes days after India cleared procurement of a fresh batch of five S-400 missile systems from Russia. The decision to procure the .

On the sidelines of Brcis, a separate working visit by Lavrov will take place to meet External Affairs Minister Jaishankar and other Indian officials

Discussions covered a wide range of issues, including bilateral cooperation as well as regional and global developments of mutual interest, and reviewed the entire gamut of India-Russia relations

Delhi and Moscow are deepening their energy cooperation, with both sides agreeing to prepare for Russia to resume ​direct sales of LNG for the first time since the start of the Ukraine war

US Treasury allows India to buy Russian oil already en route, signalling possible easing of sanctions on other Russian oil to address global supply gaps, says Scott Bessent

There's around 15 million barrels of Russian crude on tankers in the Arabian Sea and the Bay of Bengal, while vessels carrying another 7 million are idling near Singapore

Move comes months after President Donald Trump slapped tariffs on Indian goods in a bid to pressure Prime Minister Narendra Modi's government to abandon energy purchases from Russia

Reserve Bank of India stepped up surveillance of the currency market, and traders said Wednesday the central bank intervened to curb volatility after the rupee plunged to a record low

Indian refiners, wary of complicating trade talks with Washington, had pared back their purchases of Russian oil in recent weeks, which had forced Moscow to seek buyers in China

India is vulnerable to supply ‌shocks, with crude stocks covering only about 25 days of demand, while refiners hold similarly limited inventories of gasoil, gasoline and liquefied petroleum gas

Russia will still be the country's biggest supplier this month if flows reach the top of Kpler's range at 1.2 million barrels a day, but shipments are set to drop even further

Indian Ambassador Vinay Kumar on Tuesday met Russian Deputy Foreign Minister Andrei Rudenko and discussed "pressing" bilateral and international issues, including the situation in the Asia-Pacific region. The meeting came in the backdrop of Washington's claim that New Delhi has agreed to stop importing Russian crude oil. In a statement, the Russian Foreign Ministry said, "The sides discussed the schedule of upcoming political contacts, pressing bilateral and international issues, including the situation in the Asia-Pacific region." Following a recent phone conversation between Prime Minister Narendra Modi and United States President Donald Trump, both sides announced a reduction of the US tariffs on Indian goods to 18 per cent from 50 per cent. The reduction included the removal of a 25-per cent tariff that Trump had slapped on India in August last year for New Delhi's purchase of Russian oil. India has not yet confirmed or denied Washington's claim that it has committed to stoppi

Speaking at the Munich Security Conference, Jaishankar said India's independent decision-making remains central to its approach

Russia has been cultivating ties with a string of African countries, through efforts including military cooperation, and has strengthened ​relations with Mali and Burkina Faso