Russia is India’s most important arms supplier. Indian Prime Minister Narendra Modi reiterated his “special strategic partnership” with Vladimir Putin.
(Photo: imago images/Hindustan Times)
Bangkok While Western companies gave Russian oil a wide berth in light of the Ukraine war, there were no objections in India. Indian Oil, the largest state-owned mineral oil company in the subcontinent, recently ordered three million barrels, as announced earlier in the week. Shortly before the start of the Russian invasion, the New Delhi-based refiner had resumed buying Russian oil after a two-year absence.
The government in Moscow has reason to hope that the recent supply agreement will turn into a long-term deal. Unlike Europe and America, India sees no reason to cut ties with Russia.
On the contrary: representatives of the two countries appear to be working to deepen trade relations – and are preparing the payment mechanisms they want to use to protect themselves from sanctions from the West.
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