Putin, Modi to Discuss Trade, Defence Ties Amid US Sanctions

Image Source: Internet

Russian President Vladimir Putin is set to visit India on December 4, where he will meet with Prime Minister Narendra Modi to discuss strengthening trade and defence ties. The summit, scheduled for December 5, will focus on measures to shield India-Russia trade from US sanctions, as well as deepening cooperation in the defence and nuclear energy sectors. According to Dmitry Peskov, Putin's spokesperson, Moscow aims to protect its growing trade and economic ties with New Delhi from US sanctions. The two sides have finalised an agreement on the mobility of skilled and semi-skilled workers and are negotiating a free trade agreement (FTA) with the Eurasian Economic Union, a five-member bloc including Russia. Peskov noted that Russia has developed technologies to continue trade despite US sanctions, which it considers 'illegal under international law.' The country is also offering to help India build small modular reactors (SMRs) for nuclear energy. In the defence sector, Russia is keen to expand cooperation, with the supply of the Su-57 combat jet and additional batteries of the S-400 air defence system up for discussion. Bilateral trade has increased significantly, from $13 billion in 2021 to $68 billion in 2024, driven by India's energy imports. However, India's exports are worth less than $5 billion, and the two sides aim to boost this volume to $100 billion by 2030. A business event will be organised to drive exports, and both sides are looking to deepen cooperation in the fertiliser sector. The war in Ukraine is also expected to be discussed during the summit, with both sides acknowledging the need for a peaceful solution. India has maintained its long-standing position that the war cannot be decided on the battlefield and without dialogue and diplomacy. The country supports any move leading to cessation of hostilities and lasting peace, and has expressed appreciation for India's position on the conflict.