Russian President Vladimir Putin on Thursday criticised Washington’s efforts to pressure India and China into cutting energy ties with Moscow, warning that such actions could harm the global economy.
Addressing a forum of Russia experts in Sochi city, Putin said that higher tariffs on countries trading with Russia would raise global prices and force the US Federal Reserve to keep interest rates high, slowing American economic growth.
"US tariffs against India will fail. Unlike Europe, India and China are countries that respect themselves," he said. He added, "India will never allow itself to be humiliated," emphasising that Russia aims to sustain positive economic growth despite Western sanctions.
Putin hails India's policies
Putin directly addressed India, asserting that New Delhi had no reason to 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 warned that halting Russian energy purchases could cost India between $9 billion and $10 billion. “If not, high duties will be imposed on them. And once again, damage will be there. The same amount of damage. Why then? Why decline to buy Russian energy and take on political risks?” Putin asked.
He argued that the Indian public would ultimately oppose any attempt by their government to stop buying Russian oil under foreign pressure, calling such moves “pointless” from an economic standpoint.
Putin's upcoming India visit
The remarks come ahead of Putin's scheduled visit to India in December for the annual summit with Prime Minister Narendra Modi, with preparations already in full swing.
“Yes, we have finalised the timeframe for the President’s visit to India. It will take place before the New Year,” Kremlin spokesperson Dmitry Peskov said in an interview.
“The preparations for the visit are in full swing,” he added. Putin last visited New Delhi in 2021. India and Russia hold an annual summit where PM Modi and the Russian president review the full range of bilateral ties.
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