Russia has offered to scale up supplies of crude oil and liquefied natural gas (LNG) to India amid volatility in global energy markets triggered by the ongoing West Asia crisis, as senior leaders from both countries discussed expanding bilateral cooperation.
The proposal was conveyed during meetings between Russia’s First Deputy Prime Minister Denis Manturov and Indian counterparts, including External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval, in New Delhi on Thursday.
Manturov also met Finance Minister Nirmala Sitharaman and called on Prime Minister Narendra Modi as part of a series of engagements aimed at deepening economic ties.
According to a Russian readout, “Denis Manturov confirmed that Russian companies have the capacity to steadily increase supplies of oil and liquefied natural gas to the Indian market,” with particular emphasis on strengthening cooperation in the energy sector.
The discussions come as the West Asia crisis continues to disrupt global energy flows, particularly through the Strait of Hormuz, a critical chokepoint handling around 20 per cent of global oil and LNG supplies. The situation has led to a surge in international prices, impacting major importers such as India.
Energy cooperation figured prominently during the meeting of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), co-chaired by Manturov and Jaishankar.
The two sides discussed expanding trade, investment and industrial collaboration, with a focus on creating favourable conditions to boost bilateral trade volumes.
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The Russian side noted that fertiliser supplies to India had increased by 40 per cent by the end of 2025 and indicated readiness to continue meeting India’s demand.
The Ministry of External Affairs said the talks covered a broad spectrum of sectors, including trade, industry, energy, fertilisers, connectivity and mobility, as well as emerging areas such as technology, innovation and critical minerals.
Both sides also reviewed progress on decisions taken during the 23rd India-Russia Annual Summit held in December, which was attended by Russian President Vladimir Putin.
Following the summit, India and Russia outlined a five-year roadmap aimed at strengthening economic partnership and increasing bilateral trade to USD 100 billion by 2030.
Jaishankar and Manturov also exchanged views on regional and global developments, including the West Asia conflict, while the Russian side highlighted prospects for expanding cooperation in the civil nuclear energy sector.
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