Russian President Vladimir Putin has criticized the United States' tariff policies, particularly those targeting India, asserting they could backfire on the US economy. Putin believes that these tariffs, imposed by the Trump administration, are a form of pressure on countries like India and China. He suggests the tariffs could drive up global prices, which would then force the US Federal Reserve to maintain high interest rates, ultimately slowing down the US economy.

Putin made these remarks at the international Valdai discussion forum in Sochi, Russia, on Thursday, October 2, 2025. He highlighted the "special" relationship between Russia and India, emphasizing that the two countries have always considered each other's positions on key issues. He praised Indian Prime Minister Narendra Modi as a "balanced, wise," and "nationally oriented" leader.

In light of the US tariffs, which include a 50% tariff on all imports from India in addition to the existing 10% baseline tariffs, Putin has directed the Russian government to take steps to address the trade imbalance with India. He suggested that Russia could increase its imports of agricultural products and medicines from India. Putin stated that India's losses from the US tariffs would be offset by crude oil imports from Russia, which would also enhance India's prestige as a sovereign nation.

Putin also addressed concerns about US pressure on India and China to reduce their energy ties with Russia. He expressed confidence that India would not succumb to this pressure. He argued that if India were to halt energy imports from Russia, it would suffer significant losses, potentially around $9-10 billion. He added that the Indian people would not allow themselves to be humiliated by anyone and that Prime Minister Modi would not take any such step.

Furthermore, Putin pointed out what he sees as hypocrisy in US trade policies. He noted that the US continues to purchase uranium from Russia for its nuclear industry while simultaneously pressuring India to stop buying Russian oil. Putin stated that Russia is the second-largest uranium supplier to the American market and expects to earn around $1.2 billion from uranium sales to the US in 2025.

Putin is scheduled to visit India in early December for an annual summit with Prime Minister Modi. The visit aims to strengthen the strategic partnership between the two countries amidst global uncertainties and major power rivalries.