Russian President Vladimir Putin has strongly defended India’s decision to continue importing Russian oil, calling out U.S. pressure tactics as unjustified and counterproductive. Addressing the Valdai Policy Forum in Sochi on Thursday, Putin declared that Prime Minister Narendra Modi “will never make a decision that goes against India’s sovereignty” and emphasized that New Delhi will not bend under external pressure.
The Russian President issued a sharp warning to the West, stating that if higher tariffs and restrictions are imposed on Russia’s trading partners, the fallout will not be limited to Moscow but will ripple across the global economy. “Energy prices will rise, and the U.S. Federal Reserve will be forced to keep interest rates high, slowing down the American economy itself,” he remarked.
Putin cautioned that if India stops buying Russian oil under U.S. pressure, it would incur a massive financial loss of 9 to 10 billion dollars. He stressed that the people of India closely observe their leaders’ decisions and would never accept their country compromising its independence.
The Russian leader further pointed out that without Russian oil, the global economy would also be severely hit, predicting that crude oil prices could soar to over 100 dollars per barrel if supplies are disrupted.
Calling PM Modi a “friend,” Putin said he enjoys a relationship of trust with him and looks forward to his upcoming December visit to India. He also directed his government to take measures to correct the trade imbalance that has emerged due to India’s large-scale crude imports, suggesting that India could import more Russian agricultural products and pharmaceuticals to balance the equation.
In a scathing criticism of the United States, Putin accused Washington of hypocrisy. He noted that while the U.S. pressures nations like India not to buy Russian oil, it continues to rely on Russia for uranium supplies, which are crucial for its own energy security. “The U.S. buys uranium from Russia because it benefits them — that is the reality,” Putin said.
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