India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February, 2022.Consequently, from a mere 1.7 per cent share in total oil imports in 2019-20, Russia’s share increased to 35.1 per cent in 2024-25, and it is now the biggest oil supplier to India.”The sanctions are hitting those who are imposing them. We are confident that India-Russia energy cooperation will continue notwithstanding the external pressure,” Babushkin said.”Russia is the biggest supplier to India of crude oil and India’s demands are growing. Certainly, this is a perfect case of mutual accommodation and complementarity of our economies.”If hypothetically speaking, India refuses to procure Russian oil, it will not lead to mutually beneficial cooperation with the West. They (Western powers) are behaving like neo-colonial powers,” the Russian diplomat said.Babushkin said both sides are committed to take the volume of bilateral trade to USD 100 billion by 2030.To a question on American tariffs on Indian goods, he said the Russian market will welcome Indian exports.The Russian charge d’affaires said the dates for President Vladimir Putin’s visit to India later this year have not been firmed up.To a question, he said the role of BRICS as a stabilising force will increase amid the ongoing global turbulence.In terms of GDP, the size of the economy of BRICS is about USD 77 trillion while it is USD 57 trillion for Group of Seven (G7) nations, he said, arguing that the BRICS is emerging as a major economic power.The Russian diplomat also said that the defence and security cooperation between India and Russia are set to expand further.India’s Russian-supplied S-400 air defence systems played a critical role during the May 7 to 10 hostilities between Indian and Pakistani militaries.
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