New Delhi, August 20: Russia on Wednesday expressed confidence that India will continue purchasing its crude oil despite mounting U.S. pressure and possible sanctions, stressing that the two countries have built mechanisms to bypass trade restrictions and tariffs.
At a press conference in New Delhi, Roman Babushkin, Chargé d’Affaires of Russia in India, said Moscow expects oil supplies to remain at the current level. “We don’t hope that India will stop buying oil. We have a true strategic partnership and are committed to removing any challenge,” Babushkin noted.
He described threats of U.S. sanctions as a “reflection of unlawful competition,” accusing Washington of weaponising the global economy. “It is not the first time India-Russia relations are threatened by external factors. Each time we have worked out ways and we are certain about finding a way,” he added.
Russia’s Deputy Trade Representative Evgeniy Griva, who joined Babushkin at the briefing, echoed the assurance. “Despite the political situation, exports of crude oil to India would be the same,” Griva said. He underlined that Russia currently meets nearly 40 percent of India’s crude oil needs, adding, “There is no alternative to Russian crude oil.”
Babushkin also cautioned that any disruption in India-Russia oil trade could have global consequences. “It can spike crude oil prices,” he warned.
Highlighting the resilience of bilateral ties, Babushkin recalled that Russian President Vladimir Putin recently spoke with Prime Minister Narendra Modi. “That call means India matters very much. We are sharing everything. We have a comprehensive agenda — it covers trade, energy, nuclear power, investment,” he said.
Moscow, he added, is looking to push bilateral trade to $100 billion by 2030 by reducing barriers and strengthening payment systems. “We will develop our payment and transaction mechanism,” Babushkin said.
Asked about handling U.S. tariffs and restrictions, Griva explained that Russia has already set up financial mechanisms to limit exposure. “Payments in Rupee-Rouble become safer and have resisted the pressure,” he said.
Officials stressed that while external challenges persist, the India-Russia energy partnership remains steady, with both sides exploring new frameworks to sustain and expand cooperation.
