Many superpowers, in recent times, have slammed India for continuing its imports from Russia, claiming that this trade is funding the war on Ukraine. Countries like America and the UK have come down on India, saying that the largest democracy in the world should not be sitting on the sidelines on the matter of the Russia-Ukraine war. However, India has not budged from its stand and repeatedly said that as a free country, it would continue to do what’s best for its citizen.
This stand is now being reiterated, as Russia, too, is taking steps to smoothen trade between the two countries. According to sources, many Russian firms have launched regular chartered ships that will supply goods, including essential raw materials to India. Following the sanctions imposed on Moscow after the Ukraine war, this move is expected to ensure smoother trade between the two countries. The sanctions have adversely affected the supply chains.
India spent $5.1 billion in the three months till the end of May, more than five times of the value a year ago, on purchasing Russian oil, gas, and coal. Besides this, India and Russia have been in talks to revive the Vladivostok-Chennai shipping corridor as part of a partnership in the Indo-Pacific region.