Sochi: Russian President Vladimir Putin criticised the US for pressuring India to curb energy trade with Moscow, warning that such measures would backfire on Washington and hurt the global economy.
Speaking at the international Valdai discussion forum, attended by security and geopolitical experts from 140 countries including India, Putin cautioned that imposing higher tariffs on Russia’s trade partners would drive up global energy prices and force the US Federal Reserve to maintain high interest rates, potentially slowing down the American economy.
Addressing Russia’s trade ties with India, Putin expressed optimism about his upcoming visit to New Delhi in early December and directed his government to explore measures to mitigate trade imbalances arising from India’s significant crude imports from Russia.
“We have never had any problems or interstate tensions with India. Never,” the Russian leader emphasised.
Putin made it clear that India would not yield to external pressure. “India will never allow itself to be humiliated,” he said, adding that Prime Minister Narendra Modi would never take such a step. He further warned that halting energy imports from Russia could cost India an estimated $9–10 billion. “The people of a country like India, believe me, will closely monitor the decisions made by the political leadership and will never allow any humiliation in front of anyone,” Putin stated.
Referring to Modi as a personal friend, Putin underscored the trust and comfort in their interactions. “I know Prime Minister Modi; he himself would never take any steps of this kind,” he said, calling the US pressure “pointless” from an economic perspective.
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