India and Russia have stood by each other during worst of times, PM Modi tells Putin

In the backdrop of India facing punitive tariffs for its crude oil purchases from Russia, the two countries on Monday re-affirmed to “strengthen” their existing partnership and expressed “satisfaction” with the growth they have made in economic, financial and energy sectors.

Prime Minister Narendra Modi and Russian President Vladimir Putin met on the sidelines of the Shanghai Cooperation Organisation summit in Tianjin, China, and “reaffirmed support for further strengthening of the Special and Privileged Strategic Partnership between the two countries”, a statement of the Ministry of External Affairs said.

Modi and Putin also discussed several issues of bilateral cooperation. The MEA said, “This included economic, financial and energy sectors. (They) expressed satisfaction with the sustained growth in bilateral ties in these areas.” 

Modi also suggested an immediate need for bringing about peace in the Russia-Ukraine conflict.

These assurances between India and Russia come amid the US and Europe accusing India of funding Russian aggression in Ukraine by buying crude oil.

Earlier, making his opening remarks at the bilateral, Modi, in a message clearly intended for the US and Europe, told Putin: “Even in the worst of times, India and Russia have maintained close ties.” This, he said, was due to the “depth of our special and privileged strategic partnership”.

“Our ties not just help our people, but they are good for global stability, peace and growth,” Modi said.

US President Donald Trump imposed 25 per cent punitive tariffs on India for purchasing Russian crude. India had pointed out at the “absurdity” of the punitive tariffs and cited how China was the biggest buyer of Russian crude while Europe is the biggest buyer of Russian gas. Both don’t face punitive tariffs.

After the stalled trade talks between India and the US, New Delhi faced a 25 per cent tariff, the additional 25 per cent punitive tariff makes it a total of 50 per cent duties on Indian goods being imported into the US.

Referring to the Ukraine conflict, Modi said, “India welcomes all efforts to bring peace, we hope that all sides move ahead constructively.”

“There is a need to end the conflict and to find a way towards stable peace,” Modi said. The MEA statement said the PM emphasised the need to expedite a cessation of the conflict, and find a durable peace settlement.