Putin Backs PM Modi, Slams US Pressure on Russian Oil Trade
Thank you for reading this post, don't forget to subscribe!Russian President Vladimir Putin staunchly defended India’s energy trade with Moscow on Thursday, using the Valdai discussion forum to criticize the US administration’s attempts to pressure New Delhi.
Putin declared that “India will never allow itself to be humiliated,” and praised Prime Minister Narendra Modi, calling him a friend and a wise, nationally oriented leader who would not bow to outside demands.
Key Points from Putin’s Address:
- US Sanctions Backfire: He warned that penalizing Russia’s trade partners would drive up global energy prices, keeping US interest rates high and ultimately slowing the American economy.
- Cost of Compliance: Putin estimated that if India were to halt its purchases of Russian energy, it would incur losses of $9 billion to $10 billion. He argued that continuing the trade offsets punitive US tariffs and enhances India’s prestige as a sovereign nation.
- Trade Imbalance: Acknowledging the trade imbalance caused by India’s heavy crude imports, Putin confirmed his upcoming visit to India in early December and has ordered his government to increase Russian purchases of Indian agricultural products and pharmaceuticals to balance the trade.
- US Hypocrisy: He highlighted Washington’s double standard, noting that the US pressures India while remaining dependent on Russia, specifically as the second-largest supplier of uranium to the American market.
A Vow of Friendship: Putin Assures Modi, Promises to Resolve Trade Imbalance
Russian President Vladimir Putin spoke out strongly in support of India and Prime Minister Narendra Modi, asserting that the country would never submit to foreign “humiliation” over its energy ties with Russia. Speaking at the Valdai forum, he reiterated the deep trust between the nations, stating, “We have never had any problems or interstate tensions with India. Never.”
Putin praised PM Modi as his “friend” and a nationally-oriented leader, expressing confidence that Modi would reject any move to cut energy imports based on US pressure.
To strengthen this strategic partnership, Putin is making a state visit to India in early December. Ahead of this trip, he has instructed his government to find ways to reduce the current trade imbalance. The proposed solution is to increase Russian imports of agricultural products and medicines from India.
Putin also warned the US that its tariffs and pressure tactics would lead to global economic instability and exposed Washington’s “hypocrisy” for relying on Russian resources, such as being the second-largest supplier of uranium to the American market.
Putin to US: “India Won’t Accept Humiliation,” Backs Modi on Oil
Russian President Vladimir Putin delivered a sharp rebuke to the US, criticizing its pressure on India to abandon Russian oil purchases.
Speaking from Sochi, Putin offered his full support to Prime Minister Narendra Modi, saying, “India will never allow itself to be humiliated,” and that PM Modi would never take such a step.
He called the US pressure “pointless” from an economic view, estimating a $9-10 billion loss for India if it stopped buying Russian energy.
To solidify the partnership, Putin confirmed his visit to India in early December and ordered measures to ease the trade imbalance, including increasing Russian purchases of Indian farm products and pharmaceuticals. He also pointed to US “hypocrisy” for relying on Russian uranium while sanctioning other energy trade.
