Russian President Vladimir Putin on Thursday slammed Donald Trump’s administration for pressuring its India to reduce its energy trade with Moscow, warning that the strategy would ultimately backfire on Washington.
Addressing the annual Valdai Discussion Forum in the Black Sea resort city of Sochi, where security and geopolitical experts from more than 140 countries, including India, were in attendance, Putin argued that attempts to penalise Russian trade partners through tariffs would push up global energy prices. The Russian leader warned that such moves would force the US Federal Reserve to keep interest rates elevated, slowing America’s own economy.
During his speech, Putin highlighted India’s independent stance on energy policy and praised Prime Minister Narendra Modi for resisting external pressure.
“…the people of a country like India will closely monitor decisions made by the political leadership and will never allow any humiliation in of anyone… I know PM Modi; he himself would never take any steps of this kind”, Reuters quoted Putin as saying.
Putin further noted that if India stopped purchasing Russian crude, it would suffer an estimated loss of $9–10 billion. He emphasised that India had no reason to comply with outside demands, stressing that New Delhi had long maintained stable ties with Moscow. “If India refuses our energy supplies, it will suffer a certain loss,” he said.
The Russian President called PM Modi a friend, remarking that their relationship was built on trust and mutual respect. “I know Prime Minister Modi; he himself would never take any steps of this kind,” he added, calling attempts to isolate Moscow on energy trade “pointless from an economic perspective.”
Putin Warns Of Rising Oil Prices
Putin’s comments come after Trump urged key economies, including Europe, India, and China, to halt Russian energy imports in an effort to cut Moscow’s funding for the war in Ukraine. In response, Putin warned that slashing Russian supplies would set off a ripple effect across global markets, likely pushing crude prices above $100 per barrel and dealing a major blow to worldwide growth.
The Russian leader also called for deeper cooperation between Moscow and New Delhi, saying trade and payment hurdles could be resolved within the BRICS framework or through bilateral arrangements.
Putin On Ukraine Conflict And US ‘Hypocrisy’
Putin accused NATO of openly fighting Russia, alleging Western involvement in combat operations, training missions, and intelligence sharing with Kyiv. He blamed Europe for prolonging the conflict but expressed gratitude toward BRICS nations, Arab states, North Korea, and Belarus for their peace initiatives and support.
“All Nato countries are fighting us, and they’re no longer hiding it. Unfortunately, there are instructors (in Ukraine), and they’re actually taking part in combat operations. A centre was created specifically in Europe, and it essentially supports everything the Ukrainian armed forces do. It feeds information, transmits intelligence from space, and supplies weapons and gives training,” he said.
Putin pointed to what he described as Washington’s double standards saying that while the US was pressuring India and other nations over Russian oil, it relies heavily on Russian uranium for its nuclear power industry. “The United States is one of the largest states using nuclear power plants… Russia is the second-largest supplier of uranium to the American market,” he noted.
Putin also revealed that Russia is preparing steps to address the growing trade imbalance with India, caused largely by the surge in crude oil imports. Ahead of his scheduled visit to New Delhi in December, he directed his government to explore ways to enhance Russian purchases of Indian goods, particularly agricultural products and pharmaceuticals.
“The losses faced by India due to punitive US tariffs would be balanced by crude imports from Russia, plus it will gain prestige as a sovereign nation,” Putin said.
