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Putin Visits Modi Amid US Push for Ukraine Peace

India and Russia aim to boost trade to $100 billion by 2030 with deals on defence, energy, and payments amid US tariffs and geopolitical tensions, officials said.

  • On Friday, Russian President Vladimir Putin met Indian Prime Minister Narendra Modi in New Delhi and finalised an economic cooperation programme until 2030 to boost annual trade to $100 billion.
  • Under U.S. pressure over oil purchases, New Delhi sought to deepen ties with Moscow as U.S. President Donald Trump raised tariffs to 50% and India became a major Russian oil buyer.
  • Defence deliveries have been slow, with India having received three S-400 surface-to-air missile systems under a $5.4 billion deal and pursuing faster deliveries amid war-related delays.
  • Analysts say the summit tests New Delhi's balance between Moscow and Washington as critics warn Putin's visit could strain ties with the European Union and United States.
  • Planned deals span defence upgrades and broader economic cooperation, including Su-30MKI fighter jets, clean energy, shipbuilding, fertiliser supplies and labour mobility measures.
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Russian President Vladimir Putin signed an economic cooperation agreement in India, aiming to expand and diversify bilateral trade until 2030.

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Australian Financial Review broke the news in Sydney, Australia on Thursday, December 4, 2025.
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