Russia would welcome Indian exports if they face difficulties in entering the US market, Roman Babushkin, chargé d’affaires of the Russian Embassy in India, said. Russian oil supplies to India are to continue despite the threat of sanctions, he added.“If Indian goods are facing difficulty in entering the US market, the Russian market would welcome Indian imports to the most extent possible. Don’t worry about that,” Babushkin said at a media briefing on Wednesday. (20 Aug)

Although bilateral trade between India and Russia increased to $68.7 billion in FY 2024-25, most of it is due to increased purchase of oil from Russia. India’s exports in FY25 were at $4.88 billion and trade deficit was at a staggering $59 billion.

India has been thus urging Russia to import more from the country, and Babushkin’s assurance on that front is a welcome move for the Indian industry.      He also said that imposition of sanctions by US on India was “unjustified and unilateral” and reflected a lack of trust and disrespect for national sovereignty. “Friends do not behave like this,” he said.

Earlier this month, the US imposed 25 per cent reciprocal tariffs on Indian imports and also announced another 25 per cent penal tariffs on the country for buying oil from Russia. The penal tariffs will come into force on August 27.

On Foreign Minister S Jaishankar’s on-going Moscow visit, the chargé d’affaires said it was very “timely”. “IRIGC (India Russia Inter-Governmental Commission) is the main mechanism of the Russian-Indian practical co-operation. And to prepare the contacts of our leaders, which, as you may be aware, there are some information that by the end of the year, leaders will be meeting here in Delhi. No dates have been announced as yet,” Babushkin said, referring to a possible meeting between Russian President Vladimir Putin and Prime Minister Narendra Modi later this year.

Responding to questions on whether India would stop buying oil from Russia, Babushkin said that he did not expect that to happen.... “We are able to sit together and remove the problem and minimise the impact. The recent phone call by President Putin to PM Modi ji, explaining and sharing the information about recent developments in Ukraine, means India matters a lot to Russia. We are capable of finding any solution for mutual satisfaction. The deepening of our partnership will help us grow together,” babushkin said.