On Wednesday, External Affairs Minister S Jaishankar, who is on a five day tour to Russia, visited President Vladimir Putin in the Kremlin. The Russian leader extended an invitation to Indian Prime Minister Narendra Modi to visit Russia in the upcoming year.
In a joint media appearance with Lavrov following the talks, Jaishankar expressed his confidence that President Putin and Prime Minister Modi will have an annual summit the next year. Jaishankar stated that the two leaders have been in regular communication during his previous introductory statements.
In the strategic relationship between the two countries, the summit between the Russian President and the Indian Prime Minister is the highest level institutional engagement mechanism.
“Honoured to call on President Vladimir Putin this evening. Conveyed the warm greetings of PM @narendramodi and handed over a personal message. Apprised President Putin of my discussions with Ministers Manturov and Lavrov. Appreciated his guidance on the further developments of our ties,” Jaishankar said in a post on X.
Putin-Jaishankar Meet Highlights
Following his 5- Day visit Jaishankar met with Russian President Putin as well. “Improving the sustainability of our commercial interactions is crucial. According to a transcript of the meeting’s beginning provided by the Kremlin, Jaishankar stated, “We need to consider how to accomplish this.”
Additionally, Jaishankar met with Sergey Lavrov, his counterpart from Russia, with whom he reportedly spoke about “the prospects for military-technical cooperation, including the joint production of modern types of weapons.”
The “all-time high” trade transaction between the two nations, which surpassed $50 billion last year, was welcomed by India’s foreign minister.
“This year, we hope to surpass that. What matters most, he added, is that this trade offers equitable market access, is sustainable, and is more balanced.
Deputy Prime Minister Denis Manturov and Jaishankar met on Tuesday for a “comprehensive and productive” discussion on bilateral economic cooperation. During the meeting, they saw the signing of several “very important” agreements pertaining to the development of the future power-generating units of the Kudankulam nuclear power plant in Tamil Nadu.
Putin on the Ukraine War and Oil Exports
Putin promised to inform the Indian ambassador of the conflict in Ukraine, about which Indian Prime Minister Narendra Modi has taken a neutral stand.
Putin stated, “I am aware of his determination to use all available options to find a peaceful solution to this issue.”
As Western sanctions limit oil shipments, India is becoming a more significant market for Russia’s oil exports, which are the foundation of its economy.
Nearly two years after Moscow was subject to Western sanctions over the Ukraine crisis, Deputy Prime Minister Alexander Novak announced on Wednesday that Russia has shifted its oil exports from Europe to China and India.
Energy policy chief Novak stated on Wednesday, “We previously supplied a total of 40 to 45 percent of oil and oil products to Europe.”
A comprehensive and productive meeting with Deputy Prime Minister Denis Manturov of Russia on our bilateral economic cooperation.
Noted the significant progress in trade, finance, connectivity, energy, civil aviation and nuclear domains.
Appreciated the greater focus on… pic.twitter.com/fPUyDqHL5X
— Dr. S. Jaishankar (Modi Ka Parivar) (@DrSJaishankar) December 26, 2023
Western nations imposed a number of sanctions on Russia following President Putin’s deployment of soldiers to Ukraine in February 2022, including an embargo by the European Union on the country’s ability to export oil by sea.
India has grown to be a significant buyer after receiving virtually no shipments in the past. “In two years the total share of supplies to India has increased to about 40 percent,” Novak stated.
According to sources, India has been able to purchase cheap crude from Russia, refine it, and then sell it to consumers in Europe.
Comments 2