**India and Russia Hold High-Level Talks in Moscow**
Indian Foreign Minister S. Jaishankar is currently in Moscow for high-level discussions aimed at strengthening bilateral ties between India and Russia. The talks come as preparations are underway for Russian President Vladimir Putin's upcoming visit to India next month, coinciding with the BRICS summit scheduled for September 12-13 in New Delhi.
During his visit, Jaishankar is co-chairing the 27th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) alongside Russian First Deputy Prime Minister Denis Manturov. This commission, established in 1992, serves as a crucial mechanism for monitoring and enhancing cooperation across various sectors, including trade and defense.
The discussions are expected to cover a wide array of topics, including trade and defense cooperation, as well as regional and global issues. The Indian Foreign Ministry has indicated that Jaishankar will engage with his Russian counterpart, Sergey Lavrov, to explore these matters further.
In recent years, the relationship between India and Russia has deepened, particularly in the context of rising geopolitical tensions and efforts by Western nations to isolate Russia economically. This partnership has been reinforced by significant increases in bilateral trade, with India emerging as the second-largest importer of Russian oil. The two countries have set an ambitious target to reach $100 billion in bilateral trade by 2030, a goal established during Putin's last visit to India in December.
However, the backdrop of these discussions includes the potential for steep tariffs from the United States on countries purchasing Russian oil, following a new sanctions bill that has cleared the U.S. Senate. India has maintained that its oil purchases from Russia are driven by energy security and the need to provide affordable energy to its large population.
One of the key areas of focus in the talks is the local currency settlement of trade transactions, which aims to address the significant trade imbalance that has arisen due to lower Indian exports. Additionally, both nations are exploring the Northern Sea Route, an emerging shipping route along Russia's northern coast, with plans for India to send its first vessel through this route next year. Discussions are also underway regarding a proposed rail link between Russia and India.
On the defense front, the two countries are expected to discuss the potential sale of Russia's advanced fifth-generation stealth fighter, the Su-57. President Putin has previously expressed Russia's willingness to collaborate with India on this aircraft, indicating that there are no limitations on the offer. However, reports suggest that India may prioritize upgrades to its existing fleet of Su-30 MKI fighter jets instead of pursuing the Su-57 at this time. Nevertheless, negotiations continue as the Indian Air Force seeks to address its stealth fighter capabilities, particularly in light of developments concerning Pakistan's acquisition of Chinese J-35 stealth jets.
As the talks progress, both nations are likely to reaffirm their commitment to enhancing cooperation across various sectors, navigating the complexities of the current geopolitical landscape, and addressing mutual interests in trade and defense. The outcomes of these discussions will be closely watched, particularly as they set the stage for Putin's anticipated visit to India next month.