Putin's Aide Reveals India's Fuel Strategy: Why Profits Trump Politics

Russia's presidential spokesman has clearly stated that India buys its fuel based on what's profitable, not politics. This comes right after President Putin's successful state visit to Delhi, where he promised reliable energy supplies. The two countries are deepening ties, with nearly all their trade now settled in rupees and rubles. A whole package of new agreements was signed, covering everything from maritime cooperation to fertilizer supplies.

Key Points: Russia's Peskov Says India Buys Fuel Where It's Profitable

  • Dmitry Peskov affirms India's sovereign right to buy fuel based on economic advantage
  • Putin pledges Russia as a reliable, uninterrupted energy supplier to India
  • Bilateral trade now uses national currencies for 96% of transactions
  • Leaders signed agreements on trade, migration, maritime cooperation, and fertilizers
3 min read

India buys fuel where it is profitable, reaffirms Putin's top aide

Putin's top aide Dmitry Peskov states India, as a sovereign state, purchases energy where advantageous, reaffirming policy after Putin's Delhi visit.

"India, being and remaining a sovereign state, carries out foreign trade operations and purchases energy resources where it is beneficial for India. - Dmitry Peskov"

Moscow, Dec 8

Dmitry Peskov, the Press Secretary of Russian President Vladimir Putin, on Monday said that India is purchasing energy resources where it deems them advantageous. This policy, he told the media in Moscow, will continue following Putin's State Visit to India, last week.

"India, being and remaining a sovereign state, carries out foreign trade operations and purchases energy resources where it is beneficial for India," Peskov was quoted as saying by Russia's Tass news agency during a regular media briefing during which he also termed Putin's India visit as a "very successful" one.

"And, as far as we understand, our Indian partners will continue this policy to ensure their economic interests," he concluded while answering a question about whether New Delhi would continue to purchase fuel from Moscow, Tass reported.

On Friday, after concluding his talks with Prime Minister Narendra Modi in New Delhi, Putin stated that Russia remains a reliable supplier of energy resources to India and will ensure "uninterrupted fuel supplies" for the rapidly growing Indian economy.

He also thanked PM Modi for the warm and cordial welcome extended to the visiting delegation, asserting that he has established a "close working and personal contact" with the Indian PM and together they "constantly monitor" the development of Russian-Indian cooperation in all its strategic areas.

"I am pleased to note that countries are consistently transitioning to national currencies in mutual settlements. Their share in commercial transactions now stands at 96 per cent. Sustainable channels for interbank credit and financial cooperation have been established. Russian economic operators are expanding the use of Indian rupees earned through export contracts.

"Large joint projects are financed in Russian rubles. Our energy partnership is developing successfully. Russia is a reliable supplier of energy resources and everything necessary for India's energy sector development. We are ready to continue to ensure uninterrupted fuel supplies for the rapidly growing Indian economy," the Russian President mentioned after holding extensive talks with PM Modi at the Hyderabad House during the 23rd India-Russia Annual Summit.

In their meeting, both leaders discussed all aspects of India-Russia relations which remain deep-rooted and multifaceted. They also reaffirmed mutual commitment to further strengthen the Special and Privileged Strategic Partnership between India and Russia besides also discussing regional and global issues of mutual interest.

Putin mentioned that both sides "deeply and thoroughly examined" the entire range of current issues of Russian-Indian multifaceted cooperation and exchanged views on pressing global and regional issues.

"The joint statement we adopted with Mr. Modi outlined priority objectives for further strengthening ties in politics and security, economics, trade, humanitarian affairs, and culture. As you have seen, a substantial package of intergovernmental, interdepartmental, and corporate agreements was also signed," he said.

The leaders witnessed exchange of several documents, including Memorandum of Understanding (MoUs) on Trade and Commerce; Migration and Mobility; Maritime Cooperation; Health and Food Safety; Fertilizers; Academic Exchanges; Media Cooperation; and, enhancing People-to-People ties.

- IANS

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Reader Comments

S
Sarah B
The move to national currencies (96% in rupees and rubles!) is a masterstroke. It protects our trade from external financial pressures and sanctions. This is strategic economic thinking for the long term.
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Priya S
Good to see the relationship is strong. Russia has been a reliable partner for decades, from defense to now energy. We need such stable friendships in today's unpredictable world. The agreements on migration and people-to-people ties are also very positive.
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Rohit P
While the economic logic is sound, I hope we are also diversifying our energy sources. Over-reliance on any single country, even a friendly one, can be risky. Let's invest more in renewables and other suppliers too.
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Vikram M
"Purchases where it is beneficial for India" - This statement says it all. Our foreign policy should always be guided by national interest first. The summit seems to have yielded concrete results across sectors. Jai Hind!
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Michael C
Interesting to see the focus on uninterrupted supply. With our industries and transportation growing so fast, securing affordable fuel is critical to keep inflation in check. Hope the benefits reach the common man soon.

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