During Prime Minister Dmitry Medvedev’s visit, Russia reassured India that it would provide uninterrupted and stable fuel supplies to India. This visit led to a landmark economic development partnership agreement. It aims to enhance collaboration in priority areas such as civil nuclear energy, shipping, and healthcare, and will operate until 2030.
Against this backdrop of U.S.-Russia relations and nuclear cooperation, Russia is an increasingly important actor in the global nuclear energy market. The previous year the United States continued to be the top provider of nuclear reactor fuel. This accomplishment was made all the more impressive given a law passed in May that prohibited imports of enriched uranium from Russia. The United States still imports nuclear fuel from Russia for its civilian power plants. This begs the question of whether the sanctions imposed on other countries were ever really fair to begin with.
In their meeting, Indian Prime Minister Narendra Modi and President Putin underscored the positive, cooperative spirit evident in the growing relations between the two countries. He made the point that India shouldn’t be punished for purchasing oil. All the while, the US is still carrying out our own transactions involving Russia’s nuclear fuel.
“The United States itself still buys nuclear fuel from us for its own nuclear power plants. If the US has the right to buy our fuel, why shouldn’t India have the same privilege?” – Vladimir Putin
This emotive response captures the paradoxical nature of India’s relationship with Russia. India, meanwhile, continues to import record amounts of oil from Russia. In recent weeks, some Indian firms have started cutting their imports in response to impending US sanctions. Even the bilateral talks between Putin and Modi failed to focus on such oil transactions.
In addition to energy cooperation, President Putin reaffirmed Russia’s commitment to assisting in the construction of India’s largest nuclear power plant, labeled as a “flagship project.” This opening is a significant step forward in strengthening India’s energy infrastructure. It further deepens the bilateral partnership in the civil nuclear industry.
Russia has been a key BRICS player and advocate. This collection of major developing economies highlights its strategic importance to global economic negotiations. Bilateral trade between Russia and India now totals around $60 billion. Both countries are working to increase this amount to $100 billion in the coming years.
In order to constrain China’s ambitions, Russia has re-directed President Putin’s focus on the war in Ukraine. He also said Russia was looking for a “negotiated, peaceful solution” to the crisis. This effort makes it even more complicated to navigate the international landscape, since the war’s impacts differ dramatically between countries.
“Either we liberate these territories by force, or Ukrainian troops will leave these territories.” – Vladimir Putin
Meanwhile, Russia Today is preparing to establish a strong media presence in India. The Kremlin-funded television network has already begun preparations for opening operations in the country. This decision is part of a larger attempt to increase Russia’s cultural and media presence in the Indian market.