Foreign Secretary Vikram Misri is scheduled to visit Russia on March 7 for the annual foreign office consultations, where both nations will review their bilateral relationship and discuss key global and regional issues. Misri is also expected to hold meetings with top Russian leadership during his day-long visit, sources familiar with the matter said on Tuesday.
The discussions will focus on strengthening trade and investment ties, particularly enhancing Indian exports to balance the current trade deficit. Russia remains a crucial energy supplier to India, and maintaining steady oil supplies amid new Western sanctions is likely to be a major agenda item. Two-way trade between the two nations currently stands at approximately $66 billion, though it is heavily skewed in Russia’s favor due to India’s significant crude oil imports. To address this, India has been pushing for greater access to Russian markets, aligning with the bilateral trade target of $100 billion set for 2030.
With the European Union imposing additional sanctions aimed at curbing Russia’s oil exports, restrictions on Russia’s shadow fleet have also impacted its global oil supply chains. India, which has increased its oil imports from Russia since 2022, will be keen to discuss how these developments might affect future energy cooperation.
Misri’s visit is also seen as an opportunity for India to receive updates from Russia regarding efforts to resolve the ongoing Ukraine conflict. This comes at a time when former U.S. President Donald Trump’s statements signal a potential shift in America’s security commitments to Europe, influencing global diplomatic dynamics.
The annual consultations are a critical platform for India and Russia to reaffirm their strategic partnership, addressing trade imbalances, energy security, and geopolitical concerns amid an evolving global landscape.
Sources By Agencies