Oil Diplomacy: Russia, India, and China's Trilateral Tango
Russia is determined to continue oil supplies to India despite U.S. warnings and tariffs. Moscow is hopeful for trilateral talks with India and China. While tensions with the U.S. rise, there are ambitions for Greater Eurasian Partnership involving nuclear cooperation and discounted oil trades.
Russia is steadfast in maintaining its oil exports to India, despite considerable pressure from the United States, according to Russian embassy officials in New Delhi. Moscow aims to engage in trilateral discussions with India and China to fortify its energy trade amid U.S. economic sanctions.
Amid rising tensions, the United States recently announced a hefty 25% tariff on Indian goods, a move seen as retaliatory for India's substantial purchase of Russian oil. Interestingly, Indian imports from Russia have soared to 35% from a mere 0.2% prior to the Ukraine conflict, bringing economic and diplomatic stakes to the forefront.
Russian Deputy Prime Minister Denis Manturov expressed optimism about shipping liquefied natural gas to India and emphasized Russia's strategic discounts for oil exports. Furthermore, ongoing trade challenges between the U.S. and India only underscore the need for strengthened Indo-Russian ties, potentially leading to expanded Arctic nuclear and LNG partnerships.
(With inputs from agencies.)
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