VOIWORLD/New Delhi
Russia is confident that businesses and governments in Moscow and New Delhi will continue to deepen cooperation despite Western sanctions, Roscongress Foundation CEO Alexander Stuglev said Thursday during a private briefing coinciding with President Vladimir Putin’s two-day India visit.
Stuglev argued that sanctions imposed by the West were designed to create “unfair competitive advantage” for their own industries but added that such restrictions have also opened “huge niches and huge potential” for new players. Citing the rise of Chinese automakers in Russia after Western companies exited, he noted, “Chinese car manufacturers are absolutely dominant in the Russian market.”
Putin’s visit marks the first India–Russia summit held in Delhi since 2021, following Prime Minister Narendra Modi’s trip to Moscow in July 2024. The Russian leader arrived in the Indian capital days after rejecting Washington’s latest Ukraine peace proposal.
The US has recently intensified pressure on India over its energy ties with Moscow. President Donald Trump accused New Delhi of “bankrolling” Russia’s war effort and imposed a 50% punitive tariff on Indian goods. While India maintains it will continue importing Russian crude, new US and EU sanctions aimed at firms trading with Russia have slowed purchases by Indian private refiners. India has simultaneously increased imports of American oil and gas, a move widely read as an attempt to calm tensions with Washington.
Stuglev, who also heads the India–Russia Business Forum, stressed that the bilateral partnership extends far beyond the traditional areas vulnerable to sanctions such as energy and minerals. He said both countries are now motivated to diversify their economic and political ties and build more resilient supply chains.
“In a way, we could say that sanctions favour development of cooperation between Russia and India,” he said, pointing to how Turkey and China had similarly expanded engagement with Russia under sanctions. “It is not done to oppose the United States or anyone else. It is simply done to ensure long-term interests and create a reliable network of partners.”
