Trade with Russia to increase in coming years: EAM Jaishankar

NEW DELHI | Updated: 28 December, 2023 10:26 am IST

NEW DELHI: On Thursday, External Affairs Minister Dr S Jaishankar highlighted the possibility of trade relations with Russia becoming more sustainable in the coming years at the Kremlin in Moscow.

“We believe that this (trade relations) is something whose potential is now only beginning to be visible. It is important that we give it a more sustainable character,” Jaishankar told Russian President Vladimir Putin.

Dr S Jaishankar at the meeting with Russian President Vladimir Putin

He further highlighted that the details of the expansion had already been discussed with Deputy Prime Minister Denis Manturov and Foreign Minister Sergey Lavrov. He stated that through these discussions and the ongoing growth in their relations, a turnover of over $50 billion was achieved throughout the year.


The Kremlin seconded the EAM’s claims, highlighting the growth in trade between the two countries for the “second year running and at a confident pace”.

“I don’t remember how many percentage points it grew by last year, but we have already surpassed this figure in the nine months of this year. It is common knowledge that this is primarily energy resources – oil, oil products and coal, but it’s not just that,” Putin said.

He mentioned that it is also through enhanced investments in “high-tech” areas that the relationship has grown. Moreover, Putin highlighted that relations with India were making steady headway. “Despite the current turbulences in the world, relations with our traditional friends in Asia, with India and the Indian people are making steady headway,” he said.

Russian President Vladimir Putin with EAM Jaishankar

Furthermore, the Kremlin praised Prime Minister Narendra Modi for trying to solve the Ukraine-Russia war through peaceful means.

“We know the position of Prime Minister Modi and have talked about this more than once. I am referring to his position, and his attitude to complicated processes, including hot spots, the situation in Ukraine. I have repeatedly informed him about the situation around this conflict. I know about his striving to resolve this problem through peaceful means,” he said.

He promulgated his desire to meet PM Modi in Moscow, whereupon, Jaishankar disclosed that he had already planned to visit the Russian capital in 2024.

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