External affairs minister S. Jaishankar will meet Russian foreign minister Sergey Lavrov in Moscow on Thursday to review bilateral ties and prepare for President Vladimir Putin’s upcoming visit to India. The talks come amid US warnings of possible sanctions over India-Russia energy and defense cooperation.
During his visit, Jaishankar co-chaired a key intergovernmental commission meeting with Russian leaders, emphasizing the need for “creative and innovative approaches” to sustain economic cooperation in the face of global uncertainties and external pressures. Both sides highlighted the importance of strengthening logistics, banking, and financial systems independent of sanction-imposing countries, while also expanding trade settlements in national currencies. Nearly 90% of India-Russia trade is currently conducted in rupees and rubles.
The ministers are expected to review cooperation across energy, transport, agriculture, science, and technology, while also discussing global issues including Ukraine, Afghanistan, the Israel-Hamas conflict, and collaboration in multilateral forums such as BRICS, SCO, G20, and the UN. Putin’s visit to India later this year will also be a key point of discussion.
Jaishankar noted that although India-Russia trade reached a record $68.7 billion in 2024-25, India’s exports accounted for less than $5 billion, underscoring the need to diversify and balance the trade basket. Russian officials have pledged to address the imbalance by removing barriers, opening new logistics corridors, and improving payment mechanisms
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