Oil, Defence, and Power Politics: Why Putin Is in
Russian President Vladimir Putin has arrived in India for a two-day summit, greeted warmly by Prime Minister Narendra Modi. The visit is expected to deliver new defence and energy deals at a time when Washington is pressuring New Delhi to cut its dependence on Russian oil. India matters to Russia for simple reasons: a massive 1.5-billion population and the fastest-growing major economy in the world. It is a huge market for Russian resources, especially crude oil. Before the Ukraine war, only 2.5% of India’s oil imports came from Russia; discount-driven buying later pushed that to nearly 35%. The US was furious, even imposing a 25% tariff on Indian goods. Purchases have since dipped, and Putin wants them back up. Defence ties are equally critical. India has relied on Russian weapons for decades, and fresh talks about advanced fighter jets and air-defence systems signal that Moscow wants to keep this bond tight. Facing labour shortages, Russia is also looking to India for skilled workers...