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  • Russia identifies India as a key player in the Russian oil market
  • Russia supplies India with 40% of its oil needs
  • Indian PM Modi meets President Vladimir Putin for the first time since the war
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Indian and Russian leaders. ELTA

Russia identifies India as a key player in the Russian oil market

India has become the largest buyer of Russian oil, according to Moscow.

"India is the most important market; today, India is one of our main partners in the energy sector," Russian Deputy Prime Minister Alexander Novak was quoted as saying by Interfax news agency.

Russia supplies India with 40% of its oil needs

According to his data, Russia delivered 90 million tonnes of oil to India last year.

"This corresponds to 40% of India's total demand," Novak said. Sales are said to have doubled compared to 2022.

Indian PM Modi meets President Vladimir Putin for the first time since the war

The Vice-Minister was speaking on the occasion of the visit of Indian Prime Minister Narendra Modi to Moscow. In the Russian capital, Mr Modi met President Vladimir Putin for the first time since the outbreak of the war. They discussed, among other things, the development of economic cooperation.

India has taken a pragmatic stance on the Ukraine war, calling for a diplomatic solution, but has not condemned the war or joined sanctions. On the contrary, because Russian oil is cheap due to Western sanctions, India buys it in large quantities.

Based on ELTA reports