Russia offers to scale up crude oil, LNG supplies to India
New Delhi: Russia has offered to step up supplies of crude oil and liquefied natural gas to India as turmoil in West Asia continues to disrupt global energy markets, according to official statements and people familiar with the discussions held in the capital this week.
The proposal was conveyed during meetings between Russia’s First Deputy Prime Minister Denis Manturov and senior Indian leaders, including National Security Advisor Ajit Doval and External Affairs Minister S Jaishankar, on Thursday. Manturov also met Finance Minister Nirmala Sitharaman and called on Prime Minister Narendra Modi.
A Russian readout said energy cooperation featured prominently in the talks, noting that “Russian companies have the capacity to steadily increase supplies of oil and liquefied natural gas to the Indian market.” The offer comes at a time when global oil and gas prices have risen sharply due to supply disruptions linked to tensions in West Asia.
The crisis has affected shipments through the Strait of Hormuz, a critical route handling nearly 20 per cent of global oil and LNG flows. Iran’s actions in the region have constrained movement through the narrow corridor connecting the Persian Gulf with the Gulf of Oman, adding pressure on energy-importing countries such as India, which relies significantly on West Asian suppliers.
The issue of energy security was also discussed at the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation, co-chaired by Manturov and Jaishankar. Both sides reviewed progress in bilateral ties and explored ways to expand trade and investment.
According to the Russian side, “specific steps were discussed to create favourable conditions for increasing bilateral trade turnover in the present context.” The two countries have set a target to raise annual trade to USD 100 billion by 2030 under a five-year economic roadmap agreed during the 23rd India-Russia Annual Summit held in December last year, which was attended by President Vladimir Putin.
The Ministry of External Affairs said the discussions covered a wide range of sectors including energy, trade, fertilisers, connectivity and mobility, along with emerging areas such as technology, innovation and critical minerals.
Manturov also noted that Russia increased fertiliser supplies to India by 40 per cent by the end of 2025 and is prepared to continue meeting India’s demand. In addition to hydrocarbons, the Russian statement highlighted cooperation in civil nuclear energy, with Manturov stating that Moscow sees “significant prospects” for deeper engagement with India in the sector.
