External Affairs Minister (EAM) S. Jaishankar's recent visit to Russia culminated in a meeting with President Vladimir Putin on Thursday. This meeting, held in Moscow, underscores the continued importance of the India-Russia strategic partnership amidst a changing global landscape.
Jaishankar's three-day visit to Russia, from August 19-21, 2025, was multifaceted. He co-chaired the 26th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC). He also addressed the India-Russia Business Forum. Furthermore, he engaged in bilateral discussions with his counterpart, Russian Foreign Minister Sergey Lavrov.
During the meeting with Lavrov, both ministers reviewed the extensive bilateral agenda and exchanged perspectives on regional and global issues. Jaishankar emphasized the importance of the meeting in preparing for the annual summit between the two countries expected later in the year. He highlighted the broad scope of the relationship, encompassing political ties, trade, economic investment, defense, science and technology, and people-to-people exchanges. Lavrov, in turn, underscored the role of multilateral groupings such as the SCO, BRICS, and G20 in shaping the world order.
The economic dimension of the India-Russia relationship has seen significant growth. Russian Deputy Prime Minister Denis Manturov noted a 700% surge in trade turnover between the two countries over the past five years, positioning India among Russia's top three trading partners. Jaishankar acknowledged the substantial increase in bilateral trade in goods, which has grown more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024-25. However, he also cautioned about the widening trade imbalance, stressing the need for urgent measures to address it. Discussions also focused on facilitating transport, logistics, banking, and financial links that are resilient to external pressures, along with increased use of national currencies in mutual settlements. Cooperation in transport, energy, agriculture, science, and technology were also on the agenda.
Jaishankar's visit and his interactions with Russian leaders occurred against the backdrop of evolving geopolitical dynamics, including strains in India's relationship with the U.S. following increased tariffs on Indian goods. The U.S. has also expressed concerns regarding India's energy trade with Russia. Jaishankar defended India's position, stating that India is not the largest purchaser of Russian oil or LNG, and that its energy purchases are guided by market conditions and energy security considerations. He also pointed out that the U.S. itself had previously encouraged India to stabilize the world energy market, including buying oil from Russia.
During his visit, Jaishankar also paid tribute to the sacrifices made during the Great Patriotic War (1941-1945) by laying a wreath at the Tomb of the Unknown Soldier. This act of commemoration symbolizes the deep historical ties and mutual respect between the two nations.
The meeting between EAM Jaishankar and President Putin reinforces the commitment of both countries to further strengthen their "Special and Privileged Strategic Partnership". The discussions pave the way for the upcoming annual summit and highlight the multifaceted cooperation spanning across various sectors. Despite external pressures and geopolitical shifts, India and Russia continue to prioritize their bilateral relationship, focusing on economic collaboration, regional stability, and a shared vision for a multipolar world.
