New Delhi: Prime Minister Narendra Modi and Russian President Vladimir Putin reviewed energy cooperation when they met in New Delhi on Friday on the margins of the 18th BRICS Summit. The two leaders "reviewed progress in bilateral cooperation in political, economic, defence, energy, space, skill mobility and people-to-people domains," the Ministry of External Affairs (MEA) said in a statement.
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Their talks also covered "key regional and global issues of mutual interest, including the conflicts in West Asia and the Black Sea region which have impacted maritime trade and the safety and security of Indian seafarers." On those conflicts, the MEA said, Modi "once again reiterated that dialogue and diplomacy was the way forward in resolving conflicts and India stood ready to assist in peace efforts."
The meeting was the leaders' second this year, coming less than two weeks after they met in Bishkek on August 31 at the 26th Shanghai Cooperation Organisation (SCO) Summit. Modi pointed to that short gap in a post on X.
"Delighted to meet President Putin in Delhi, less than two weeks after our meeting in Bishkek," he wrote. "During today's meeting we talked about: Closer trade ties, including implementation of the Programme for Economic Cooperation 2030."
The post went on to list "Cooperation in areas like infrastructure, energy" among the subjects discussed.
As far as energy is concerned, Russia remains India's largest source of crude oil. It held that position in August even as volumes fell, according to Kpler data. India imported 2.1 million barrels per day (bpd) of Russian crude that month, down from 2.6 million bpd in both June and July. Even so, Russia's share of India's crude imports stayed above 40 percent.
Kpler analyst Sumit Ritolia said the fall did not mean Indian demand for Russian oil was weakening. He attributed it instead to refinery maintenance and some normalisation after strong buying in recent months. Lower Russian export availability and growing competition from China also played a part, he said.
Some of the pressure on Russian exports has come from the Black Sea conflict itself. In mid-August, Russia suspended crude exports from the Sheskharis terminal at Novorossiysk after a Ukrainian drone attack. The terminal is Russia's main oil export outlet on the Black Sea and handles about 700,000 bpd. The halt was one of the reasons India's Russian oil supplies were set to fall in August.
Indian crews working in those waters have also been hit. At least five Indian seafarers had been killed in attacks on ships in the Black Sea since April, the MEA said in July. After those attacks, the ministry said: "India unequivocally condemns such attacks targeting commercial shipping and placing the lives of innocent civilian crew members at risk. It is a matter of serious concern that the freedom of navigation and international commerce is facing increasing threats."
The MEA followed with an advisory warning that "Commercial vessels operating in or transiting these waters are facing significant security risks, including missile and drone attacks." India also summoned Ukraine's ambassador and Russia's chargé d'affaires over separate attacks on vessels with Indian crew.
In West Asia, Indian authorities have gone further. Shipping through the Strait of Hormuz has been disrupted since the war between Iran and the United States and Israel began on February 28. In July, the Directorate General of Maritime Administration (DGMA) asked ship owners, managers and recruitment firms to "avoid assigning Indian seafarers to voyages involving passage through the Strait of Hormuz until further orders."
Trade and industry came up through INNOPROM India, Russia's International Industrial Exhibition, which was held in India for the first time from September 9 to 11. The leaders welcomed the exhibition and "underscored its importance in further expanding trade and industrial ties," the MEA said. Both then visited the exhibition and interacted with participants.
Looking beyond the bilateral agenda, Modi and Putin exchanged views on India-Russia engagement in the multilateral sphere, "in particular in BRICS under India's Chairship for 2026." They agreed to remain engaged in strengthening the Special and Privileged Strategic Partnership. According to the MEA, the partnership "continues to register significant growth and has shown resilience in the backdrop of geopolitical uncertainties."
Putin invited Modi to visit Russia for the 24th India-Russia Annual Summit, and Modi accepted. "The dates of the Summit will be decided as per mutual convenience through diplomatic channels," the MEA said.
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Energy was also on the table at the previous annual summit, held in New Delhi in December 2025. "We are ready to continue uninterrupted shipments of fuel for the fast-growing Indian economy," Putin said then.