India’s External Affairs Minister Subrahmanyam Jaishankar concluded the first day of a three-day visit to Moscow by holding talks with Russian Foreign Minister Sergei Lavrov and calling on President Vladimir Putin. The two sides said they would “swiftly address non-tariff barriers” with a view to lifting annual bilateral trade from US$68 billion in 2024-25 to US$100 billion within five years and signed terms of reference to begin negotiations on a free-trade agreement between India and the Eurasian Economic Union. Energy cooperation dominated the discussions. First Deputy Prime Minister Denis Manturov said Moscow sees “potential for LNG exports to India” and is counting on wider nuclear energy collaboration. Lavrov highlighted “good results” in hydrocarbon trade and proposed joint projects to extract oil and gas in Russia’s Far East and Arctic shelf. Jaishankar defended India’s purchases of discounted Russian crude, noting that China and the European Union remain larger buyers of Russian energy. His comments follow Washington’s decision to raise tariffs on Indian goods to as much as 50 % from 27 August in response to New Delhi’s continued imports of Russian oil. White House trade adviser Peter Navarro escalated the dispute on Wednesday, calling India a “laundromat” for Kremlin funds. Russia and India signalled they intend to press ahead with high-level engagement despite U.S. pressure. Putin accepted an invitation to visit India for a summit later this year, while Jaishankar invited Lavrov to New Delhi to continue the dialogue. Russian diplomats also offered to absorb additional Indian exports that could be displaced from the U.S. market by the new tariffs.
Trump's Trade Advisor Peter Navarro: India does not want to recognise the role its playing in the bloodshed in Ukraine. Instead, it is cozying up to Xi Jinping. https://t.co/j8zaIbNEYo
This week, Russian top diplomat Babushkin: India a partner, matters to us, our mkt open Chinese Amb Xu Feihong: India, China double engines of Asia, our market open Trump Advisor Navarro: Kremlin's laundromat, nonsense that India needs Russian energy, 50% tariffs on India https://t.co/sPMEeIBF1U
Genius Peter Navarro explains the vast India-Russia conspiracy! 😱 Indian oil refineries are the culprits behind the Ukraine war. It’s not the NATO expansion, it’s not the neo-Nazis armed by the US, it’s not Victoria Nuland or the CIA. It’s INDIA buying Russian oil! 😭 https://t.co/iQJqGqFBy7