Amidst escalating global trade tensions, particularly with the United States, External Affairs Minister S. Jaishankar's recent visit to Moscow underscores the enduring strength and evolving dynamics of the India-Russia relationship. His three-day official visit, from August 19-21, 2025, is aimed at further solidifying the "time-tested" India-Russia Special and Privileged Strategic Partnership.
Jaishankar's visit occurs against a backdrop of increasing strain in India-U.S. relations, primarily stemming from U.S. President Donald Trump's decision to increase tariffs on Indian goods to 50%, a move interpreted as a reaction to India's continued oil purchases from Russia. These tariffs include an additional 25% penalty specifically for India's acquisition of Russian crude oil.
During the visit, Jaishankar is co-chairing the 26th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC). This session is a key engagement to deepen bilateral relations and explore avenues to boost trade and investment ties. Jaishankar is also scheduled to address the India-Russia Business Forum in Moscow. Furthermore, he will meet with Russian Foreign Minister Sergey Lavrov to review the bilateral agenda and exchange perspectives on regional and global issues. Discussions are expected to include the Trump administration's initiatives to resolve the Russia-Ukraine war.
A significant focus of Jaishankar's visit is addressing the growing trade imbalance between the two nations. While bilateral trade in goods has seen a remarkable surge, increasing more than five-fold from $13 billion in 2021 to $68 billion in 2024-25, the imbalance has widened considerably. The trade deficit has increased from $6.6 billion to $58.9 billion. Jaishankar emphasized that this imbalance is unsustainable and requires urgent attention.
Russia is also keen on addressing this imbalance. The Russian Embassy in India has stated Moscow's commitment to narrowing the trade gap by expanding energy supplies and removing trade barriers. Mechanisms are reportedly in place to ensure the steady flow of oil to India, with projections indicating a roughly 10% annual increase in bilateral trade and stable energy shipments.
Despite the complex geopolitical environment and U.S. sanctions, both India and Russia have reaffirmed their commitment to their strategic partnership. Roman Babushkin, Chargé d'Affaires of the Russian Embassy in India, stated that Russia understands the challenges faced by India and is dedicated to removing them, emphasizing the importance of continued oil supplies and the removal of trade barriers. He also mentioned that discussions are ongoing to improve payment mechanisms between the two countries.
Jaishankar's visit follows a recent trip to Moscow by National Security Advisor Ajit Doval, who met with President Vladimir Putin and other high-ranking Russian officials. These high-level exchanges underscore the consistent diplomatic engagement between New Delhi and Moscow. Moreover, Russian President Vladimir Putin is expected to visit India later in 2025, further solidifying the strong ties between the two nations.
