Jaishankar Meets Lavrov to Strengthen Energy and Trade Links

Talks in Moscow Focus on Balanced Trade

External Affairs Minister S. Jaishankar met Russian Foreign Minister Sergey Lavrov in Moscow on Thursday. Both leaders focused on boosting bilateral trade while addressing India’s rising trade deficit with Russia. Jaishankar stressed that India must expand its exports to Russia in sectors like pharmaceuticals, agriculture, and textiles. He also urged the removal of regulatory hurdles that restrict Indian products from entering Russian markets.

Trade Deficit Remains a Concern

During the talks, Jaishankar highlighted that India’s trade deficit with Russia has surged to nearly $59 billion. He explained that this imbalance comes mainly from increased oil imports over the past two years. He emphasized that India cannot sustain such a gap and must urgently expand its share of exports. Lavrov agreed that both sides should take steps to make trade more balanced and sustainable.

Energy Cooperation Stays Central

Energy remained a key part of the discussions. Lavrov underlined Russia’s commitment to continue supplying oil to India despite Western sanctions. He also proposed joint ventures in exploration and production, especially in the Russian Far East and Arctic. Jaishankar welcomed these ideas and confirmed India’s interest in diversifying its energy investments in Russia. Together, both ministers affirmed that cooperation in energy would strengthen the long-term partnership.

Sanctions and Special Mechanisms

The talks also touched upon the challenge of U.S. and European sanctions on Russian oil and gas. Lavrov said Russia had already set up a special system to ensure uninterrupted supply to India. Jaishankar noted that India should not face penalties for these purchases, especially since China and European countries buy even larger volumes of Russian energy. He explained that India’s imports remain essential for its energy security.

Broader Strategic Partnership

Beyond trade and energy, Jaishankar and Lavrov discussed wider areas of cooperation. They reviewed defense collaboration, connectivity projects such as the International North-South Transport Corridor, and the Chennai–Vladivostok maritime route. They also spoke about joint defense production under the “Make in India” initiative. In addition, both sides reaffirmed close coordination at global forums like the UN, SCO, BRICS, and G20.

Humanitarian Issues and Next Steps

Jaishankar raised the issue of Indians serving in the Russian Army and sought their early release. Lavrov promised to look into the matter. Both leaders agreed to prepare the ground for the upcoming annual India–Russia summit later this year. They concluded that the partnership must keep evolving to meet the demands of changing global circumstances.