Trade surge with Russia driven by others
Jaishankar further noted that the steep rise in overall trade with Moscow after 2022 had not been driven by India. “We are not the country which has the biggest trade surge with Russia after 2022; I think there are some countries to the South,” he said, without naming them.
India acting on energy stability calls
The Minister also highlighted what he described as contradictions in Western arguments. He noted that the United States itself has, in past years, urged countries like India to stabilise the global energy market, which included sourcing oil from Russia.
“Incidentally, we also buy oil from the US,” Jaishankar added, pointing out that India’s imports of American crude have steadily risen.
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Perplexed by the logic of criticism
Expressing surprise over repeated questioning of India’s energy policy, Jaishankar said he was “perplexed at the logic” behind the criticism. He emphasised that purchasing energy from diverse sources was in India’s national interest, particularly given global market volatility.
His comments come amid ongoing Western scrutiny of India’s energy ties with Russia in the wake of the Ukraine conflict. New Delhi has consistently argued that its oil purchases are guided by affordability and energy security needs, not geopolitics.
Jaishankar meets Lavrov to review bilateral ties
EAM Jaishankar met Russian Foreign Minister Sergey Lavrov in Moscow on Thursday, where the two leaders reviewed political relations, bilateral cooperation, and preparations for the annual India-Russia summit scheduled later this year. “Today’s meeting gives us the occasion to discuss our political relations and bilateral ties. We now prepare for the annual summit at the end of the year, guided by our leaders to advance our strategic partnership,” Jaishankar said.
The discussion also placed India-Russia cooperation within a broader international framework. “The global context for our meeting is provided by the evolving geopolitical situation, shifting economic trade landscape, and our shared goal to maximise complementarity,” he underlined.
Lavrov highlights multipolar world order
Welcoming Jaishankar, Russian Foreign Minister Sergey Lavrov stressed that the global landscape is increasingly shaped by multilateral groupings. “This is a multipolar system of international relations with an increasing role for SCO, BRICS, and the G20. I hope for fruitful talks today,” Lavrov remarked.
Trade surges, but imbalance a concern
The visit comes at a time of deepening economic cooperation. According to Russian Deputy Prime Minister Denis Manturov, India’s trade turnover with Russia has surged nearly 700 per cent in the last five years, placing New Delhi among Moscow’s top three trading partners.
Jaishankar, however, flagged the rising trade imbalance. “While our bilateral trade in goods has grown more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024–25, the imbalance has increased nine times, from USD 6.6 billion to USD 58.9 billion. This urgently needs to be addressed,” he said.
Productive IRIGC-TEC session in Moscow
As part of his three-day visit, Jaishankar co-chaired the 26th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) alongside Deputy PM Manturov. “We held detailed discussions covering trade, energy, agriculture, industry, skilling, mobility, education, and culture. In the backdrop of a complex geopolitical environment, we suggested steps to make IRIGC-TEC an even more effective platform for deepening our economic partnership,” he noted.
During his Moscow visit, Jaishankar also paid tributes at the Tomb of the Unknown Soldier, honouring those who sacrificed their lives in the Second World War.
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