He indicated that although some Indian refiners have curtailed procurement of Russian oil amid sanctions on major suppliers, others continue to source Russian crude via entities that remain outside sanction lists. This flexibility, he said, reflects the adaptability of trade channels established between Russia and India.
Peskov voiced appreciation for India’s posture on national interest, describing New Delhi as “very sovereign” in charting its own path. He warned against allowing external interference to shape India–Russia commerce. The Kremlin has floated the idea of building a new trade architecture possibly bypassing dollar-based payment systems, aiming to shield transactions from geopolitical pressure.
Ahead of the upcoming visit of Vladimir Putin to New Delhi, Moscow signalled readiness to address India’s longstanding trade-deficit concerns. Russia is reportedly open to expanding interest in Indian goods such as fertilisers, aluminium and other commodities to narrow the imbalance. Energy cooperation, including crude oil supply and possible civil-nuclear and defence collaboration, remains central to the agenda.
Analysts note that the backdrop to Peskov’s remarks includes US sanctions—imposed this year targeting major Russian energy firms—that have prompted some Indian refineries to pause or scale back purchases from entities such as Rosneft or Lukoil. Nonetheless, other refiners are navigating the sanctions by buying Russian crude from non-sanctioned sources, often at steep discounts, making the supply still economically attractive.
Observers say Russia’s stance underlines its interest in preserving India as a reliable long-term buyer for its oil, and its intention to maintain strategic ties despite mounting Western attempts to isolate it. The upcoming summit between Putin and Narendra Modi is expected to emphasise not only energy and trade, but also payment mechanisms, defence cooperation, and broader economic engagement.