Russian President Vladimir Putin arrived in India on Thursday for a two-day visit, aiming to restore energy and defence ties with New Delhi that have been strained by U.S. pressure. The visit focuses on boosting sales of Russian oil, missile systems, and fighter jets.

Russia has long been a key arms supplier to India, which also emerged as the top buyer of Russian seaborne oil following the 2022 invasion of Ukraine. However, India’s crude imports from Russia are set to hit a three-year low this month, partly due to tightening Western sanctions and increasing Indian purchases of U.S. oil and gas.

Accompanied by Defence Minister Andrei Belousov and a broad business delegation, Putin is meeting Prime Minister Narendra Modi for the first time in four years. “Putin’s visit offers an opportunity for Delhi to reassert the strength of its special relationship with Moscow, despite recent developments, and make headway in new arms deals,” said Michael Kugelman of the Atlantic Council.

Concerns Over U.S. Reaction

Indian officials are wary that new energy and defence agreements could provoke a response from U.S. President Donald Trump, who raised tariffs on Indian goods to 50% in August as a penalty for New Delhi’s purchases of Russian crude. Ahead of the summit, both sides held talks on defence, shipping, and agriculture, and agreed in August to negotiate a free trade deal between India and the Russian-led Eurasian Economic Union. Discussions are also underway to expand civilian nuclear energy cooperation.

Putin’s delegation includes CEOs from Sberbank, Rosoboronexport, Rosneft, and Gazprom Neft. Sberbank has expressed interest in investing in Indian infrastructure projects using rupees—the currency in which much of their bilateral trade is settled. According to India CEO Ivan Nosov, the bank is also providing rupee loans to Russian exporters to boost sales in India.

Moscow is expected to seek India’s help in sourcing technical equipment for its oil assets, which have been affected by sanctions. India, in turn, is likely to push for the restoration of ONGC Videsh Ltd’s 20% stake in the Sakhalin-1 oil project in Russia’s Far East.

Defense Remains Central

Unlike energy, India does not intend to scale back defence ties with Russia soon, as it relies on Moscow for spare parts and support for its existing Russian-made systems. Russian Sukhoi-30 jets form the bulk of India’s fighter fleet, and Moscow has offered its advanced Su-57 fighter, which may be discussed during the visit, though no decision has been made.

India is also expected to discuss purchasing additional S-400 air defence systems. Defence Secretary Rajesh Kumar Singh recently emphasized India’s continued dependence on Russian defence equipment.

Strategic Context

Recent U.S.-Russia talks on ending the Ukraine war could make it easier for India to engage with Moscow, according to Harsh Pant of the Observer Research Foundation. However, he noted that the relationship now relies heavily on defence, as energy trade has waned under the threat of U.S. sanctions.

“A large part of the trading relationship was based on energy, which is now losing traction… And at the end of the day, only defence remains, which continues to bind the two together,” Pant said.