New Delhi, April 3
Amid ongoing tensions in West Asia impacting global energy markets, Russia has offered to increase its supply of crude oil and natural gas to India, even as both countries agreed to further strengthen bilateral ties.
Energy cooperation emerged as a key focus during talks held by Russia’s First Deputy Prime Minister Denis Manturov with National Security Advisor Ajit Doval and External Affairs Minister S. Jaishankar on Thursday, according to sources familiar with the discussions. Manturov also met Finance Minister Nirmala Sitharaman and called on Prime Minister Narendra Modi.
According to a Russian statement, special emphasis was placed on collaboration in the oil and gas sector. Manturov said Russian companies have the capacity to steadily enhance supplies of crude oil and liquefied natural gas (LNG) to the Indian market.
The development comes at a time when the West Asia crisis has triggered volatility in global energy prices, largely due to disruptions in supplies through the Strait of Hormuz — a crucial shipping route that handles around 20 per cent of global oil and LNG trade. The situation has significantly impacted energy-importing countries like India, which relies heavily on the region.
The issue was also discussed at the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), co-chaired by Manturov and Jaishankar. Both sides explored ways to expand trade, investment, and industrial cooperation, with a focus on boosting bilateral trade volumes under current global conditions.
Manturov noted that Russia had increased fertiliser supplies to India by 40 per cent by the end of 2025 and expressed readiness to continue meeting India’s requirements.
The Ministry of External Affairs (MEA) said discussions covered a wide range of areas, including trade, energy, fertilizers, connectivity, mobility, and emerging sectors such as technology, innovation, and critical minerals. Both sides also reviewed progress on decisions taken during the 23rd India-Russia Annual Summit held in December last year.
At the summit, attended by Russian President Vladimir Putin and Prime Minister Narendra Modi, the two countries had outlined a five-year roadmap to strengthen economic ties and increase bilateral trade to USD 100 billion by 2030.
Jaishankar and Manturov also exchanged views on regional and global developments, including the evolving situation in West Asia. The Russian side further highlighted prospects for expanding cooperation with India in the civil nuclear energy sector.
