How energy, defence shape India-Russia ties as Modi prepares to meet Putin at BRICS

Modi to meet Putin at BRICS Summit with focus on defense and trade.

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Prime Minister Narendra Modi is set to meet Russian President Vladimir Putin on September 11 on the sidelines of the BRICS Summit in New Delhi, with defence, trade and economic cooperation expected to feature in the talks. The meeting comes as India-Russia ties remain anchored in a long-standing strategic partnership, even as New Delhi faces US pressure over its purchases of Russian oil.

Kremlin spokesperson Dmitry Peskov confirmed the bilateral meeting, saying the two leaders would “first touch on the bilateral agenda”.

Peskov also said the proposed sale of Russia’s Su-57 fighter aircraft to India would be on the agenda.

The oil economy

Energy has become one of the biggest drivers of India-Russia trade since the Russia-Ukraine war began in 2022. India sharply increased purchases of discounted Russian crude after Western sanctions disrupted Moscow’s traditional energy markets.

The growth in oil trade has also transformed the scale of bilateral commerce. Reuters reported this month that Russia-India trade had reached a record $70 billion in 2024, tripling from the start of the Ukraine conflict. Trade declined in 2025 as sanctions tightened but recovered in the first half of 2026.

Payment mechanisms have also adapted to sanctions. According to Reuters, roubles and rupees now account for 96% of bilateral trade, with 22 Russian and 17 Indian banks servicing transactions.

The oil relationship, however, has become a major point of friction with Washington. US officials have repeatedly urged India to reduce its reliance on Russian crude, while Washington has considered punitive measures against countries continuing to buy Russian oil.

White House trade adviser Peter Navarro has sharply criticised New Delhi's purchases, accusing India of helping fund Russia's war effort. India has rejected such criticism as “inaccurate and misleading”, maintaining that it acts in the interest of energy security of its 1.4 billion people.

Putin, meanwhile, has backed India against such pressure. In June, he said: “The US is trying to pressure India, including over cooperation with Russia, but it will resist such efforts.”

Also read: India moves to buy 5 more S-400s after Op Sindoor success; Russia sends cost proposal

Defence remains the other pillar

Defence cooperation continues to give the relationship strategic depth. Russia remains a major supplier of military equipment to India, while cooperation has also included joint development projects such as BrahMos.

The S-400 air defence system is a recent example. India is moving ahead with negotiations for five additional systems, with Russia sending a cost proposal, HT reported on September 5. The final approval will depend on cost negotiations and clearance from the finance ministry and Cabinet Committee on Security.

The Su-57 could add another dimension. Peskov said its sale to India would be discussed during the Modi-Putin meeting. India has not officially announced a decision to acquire the aircraft, although the Indian Air Force has shown interest in the Russian proposal.

Putin had said in June that Moscow was open to deeper cooperation on the fifth-generation fighter and recalled that Russia had earlier proposed joint development with India.

Also read: US biz groups warn senators over Russia sanctions bill targeting India, others

Partnership under geopolitical pressure

The two countries continue to officially describe their relationship as a “special and privileged strategic partnership,” spanning defence, energy, nuclear cooperation, space, fertilisers and connectivity.

At their August 31 meeting in Bishkek, Modi told Putin that India supports efforts towards peace in Ukraine. “We must move away from endless war towards an end to the war,” Modi said, adding that a peaceful resolution was “the call of humanity”.

Putin, for his part, said Russia sees India as “a very reliable partner” and that Moscow would continue expanding ties with New Delhi.

The BRICS meeting will therefore come at a moment when the partnership remains strong but is being tested by competing pressures.

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  Prakriti Deb is a journalist at Hindustan Times Digital, where she is part of the US Desk. She works on stories related to American politics, crime, sports, entertainment and weather. She particularly enjoys covering political developments that have global ripples. Through her work, she aims to break down complex events in a way that feels simple and understandable. Before joining the Hindustan Times, she worked with The Indian Express Digital, where she covered world affairs. She holds a postgraduate degree in Mass Communication with a specialisation in Journalism, along with a bachelor’s degree in English Literature. Outside the newsroom, Prakriti enjoys travelling and stepping out of her comfort zone. She finds her sense of being through storytelling in all its forms, including conversations, painting, theatre, dance and photography. She appreciates discussions that challenge her perspective and help her see the world a little differently.Read More