The Russian leader has commented on Washington’s move to impose punitive tariffs against New Delhi over oil trade with Moscow

FILE PHOTO: Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. ©  Sanjeev Verma / Hindustan Times

Indian people will not tolerate their country being bullied into making decision that contradict their national interests and priorities, Russian president Vladimir Putin said at a plenary session of the Valdai Discussion Club in Sochi on Thursday. He was asked to comment on the US threatening Moscow’s key partners who continue to import Russian energy, including nuclear reactor fuel, uranium, with high tariffs and sanctions.

Implementing secondary tariffs against China and India, the biggest buyers of Russian oil, will lead to an increase in prices in the American market and inevitably slowdown the US economy, Putin argued. “There is no political aspect here; it's purely an economic calculation,” he said.

“Will India give up our energy resources? If so, it will incur certain losses. Estimates vary; some say it could be around $9-10 billion. But if it doesn't refuse, sanctions will be imposed, and the loss will be the same. So why refuse if it also carries domestic political costs?” Putin asked.

A nation such as India will carefully monitor the decisions made by its leadership. “[Indian people] will never allow itself to be humiliated by anyone. I know Prime Minister [Narendra] Modi, he will also not make any such decisions,” Putin declared.

 

>October 2, 2025

Since 2023, India has emerged as a major exporter of refined fuels to Europe. Indian private firms purchase Russian crude at discounted prices and then sell processed fuel products to starved European markets.

US President Donald Trump’s administration has imposed 50% tariffs on most imports from India, half of which represents a penalty specifically for India's purchases of Russian oil and weaponry.

In his speech at the UN General Assembly in New York last week, Trump accused India and China of “funding” the Ukraine conflict through Russian energy imports Both Beijing and New Delhi have called Washington’s approach unacceptable and refused to bow to US pressure.

Responding to a question from Major General (Ret.) BK Sharma, Director of the United Services Institution, Putin emphasized “special” relationship between the two countries. “People in India do not forget about this and our relations, I believe. Some 15 years ago, we made an announcement about privileged strategic partnership and that is the best description. Prime Minister Modi is a very wise leader who thinks first about his country.” The Russian leader noted that expanding trade and economic ties with New Delhi across sectors is the key priority for Moscow.