Modi-Putin phone call: Oil, trade and peace dominate agenda
This was the first call since the two leaders participated in the BRICS Summit, hosted by China in a virtual format on June 23. In particular, they exchanged ideas on how bilateral trade in agricultural goods, fertilizers and pharma products could be encouraged further
FollowPrime Minister Narendra Modi and Russian President Vladimir Putin discussed a range of issues, including bilateral, regional and global, over a phone call on Friday. This was the first call since the two leaders participated in the BRICS Summit, hosted by China in a virtual format on June 23.
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During their telephonic conversation, Modi and Putin also discussed the ongoing war between Russia and Ukraine, wherein the prime minister reiterated India's long-standing position in favour of dialogue and diplomacy. The two countries have been engaged in war since February this year.
They also reviewed the implementation of the decision taken during their bilateral summit held in December 2021. "In particular, they exchanged ideas on how bilateral trade in agricultural goods, fertilizers and pharma products could be encouraged further," an official statement said.
Besides, discussions on the state of the international energy and food markets were also held. It must be mentioned that India continues to be one of the biggest importers of Russian crude oil.
On his part, the Russian President drew attention to the systemic mistakes made by a number of countries, which led to the disruption of the entire architecture of the free trade of food products and provoked a significant increase in their cost.
Illegitimate sanctions against Russia have exacerbated an already difficult situation, Putin said, adding that the same factors had a negative impact on the global energy market. At the same time, Putin stressed that Russia has been and remains a reliable producer and supplier of grain, fertilizers and energy carriers, including to the Indian partners.
Since the war broke out between Moscow and Kyiv, Modi and Putin had held telephonic discussions on numerous occasions. According to shipment tracking agency Vortexa, Moscow may have become New Delhi's biggest crude supplier in the month of June while the quantity from the US has shrunk.
Prior to the war beginning in February, India used to import less than a per cent of crude oil from Russia. In March, India had imported 30 lakh barrels of crude oil while in April it went up to 72 lakh barrels and in May, it had spiked to 240 lakh. In June, it is believed that it would have crossed 300 lakh barrels.
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