Russia Proposes Enhanced Energy Supply to India Amid Middle East Volatility
Russia has formally offered to increase its supply of crude oil and liquefied natural gas (LNG) to India, as the ongoing crisis in the Middle East introduces significant volatility into the global energy market. This development was reported by PTI, citing officials familiar with the high-level discussions between the two nations.
High-Level Talks Focus on Energy Security and Bilateral Cooperation
The energy cooperation formed a central part of talks held on Thursday in New Delhi, involving Russia's first deputy prime minister Denis Manturov and key Indian officials, including national security advisor Ajit Doval, external affairs minister S Jaishankar, finance minister Nirmala Sitharaman, and Prime Minister Narendra Modi. A Russian readout of Manturov's engagements confirmed that Russian companies possess the capacity to steadily increase supplies of oil and LNG to the Indian market, as quoted by the agency.
These discussions occur against a backdrop of disruptions in crude oil and gas shipments through the Strait of Hormuz, a vital corridor between the Persian Gulf and the Gulf of Oman that handles approximately 20% of global oil and LNG exports. India, which sources a significant portion of its energy from the Middle East, has been particularly affected by these disruptions.
Impact on Energy Prices and Supply Chains
The disruption has led to rising energy prices across the region, including increases in the cost of commercial LPG, air-turbine fuel (ATF), and premium petrol in India. The gas sector has been hit especially hard, as India imports over 60% of its LPG consumption, with about 90% of those imports coming through the Strait of Hormuz. In response to the conflict, the Indian government has taken measures to cushion consumers from supply disruptions, ensuring that all refineries in the country operate at over 100% production capacity and diversifying sourcing of oil and gas.
Expanding Bilateral Trade and Industrial Cooperation
During the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), co-chaired by Manturov and Jaishankar, the two sides discussed expanding bilateral trade, investment, and industrial cooperation. The Russian readout indicated that specific steps were discussed to create favorable conditions for increasing bilateral trade turnover in the present context.
Manturov also highlighted Russia's support in the fertilizers sector, noting that supplies to India increased by 40% by the end of 2025, with further deliveries planned to meet India's growing needs. The ministry of external affairs stated that the talks covered a wide range of areas, including trade, industry, energy, fertilizers, connectivity, mobility, technology, innovation, critical minerals, and civil nuclear energy. On the latter, the Russian statement emphasized significant prospects for deepening engagement with India in this sphere.
Review of Progress and Regional Developments
The discussions also reviewed progress on the implementation of outcomes from the 23rd India-Russia Annual Summit held in December 2025, when Russian president Vladimir Putin visited India. That summit had unveiled a five-year roadmap to strengthen economic partnership and raise annual bilateral trade to USD 100 billion by 2030. Additionally, Jaishankar and Manturov exchanged views on regional and global developments, including the conflict in the Middle East, as added by the MEA.
