West Asia War: Amid Hormuz Crisis, Russia Proposes Boosting Oil And Gas Supplies To India

(MENAFN- Live Mint) As the ongoing West Asia war continues to trigger volatility across the global energy landscape, Russia has proposed increasing crude oil and natural gas exports to India, even as both nations pledged to further strengthen their bilateral ties.

Energy cooperation took centre stage during high-level discussions between Russia's First Deputy Prime Minister Denis Manturov, National Security Advisor Ajit Doval, and External Affairs Minister S Jaishankar on Thursday, according to PTI reports citing informed sources.

Manturov also met Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi on Thursday evening.

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A Russian official statement on the First Deputy Prime Minister's visit to New Delhi noted that particular focus was placed on bilateral cooperation in the oil and gas sectors.

“Denis Manturov confirmed that Russian companies have the capacity to steadily increase supplies of oil and liquefied natural gas to the Indian market,” it said.

These remarks come as turmoil in the Middle East continues to pressure global energy markets, primarily due to supply chain disruptions involving crude and gas shipments passing through the Strait of Hormuz.

Global oil and gas prices have surged following Iran's virtual blockade of the Strait of Hormuz, a critical maritime corridor between the Persian Gulf and the Gulf of Oman that facilitates approximately 20% of global oil and liquefied natural gas (LNG) shipments. West Asia has traditionally been a key source of India's energy imports.

Several issues related to bilateral connectivity were also discussed during the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC), co-chaired by Manturov and Jaishankar.

Expanding mutually beneficial trade, investment, and industrial cooperation remained a key priority on the agenda, the Russian statement said.

“Specific steps were discussed to create favourable conditions for increasing bilateral trade turnover in the current context,” it added.

Manturov highlighted that Russia increased fertiliser shipments to India by 40% by the end of 2025 and remains ready to meet India's ongoing requirements.

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The Ministry of External Affairs (MEA) said both sides held extensive discussions on trade, industry, energy, and fertilisers, and explored new areas of cooperation in technology, innovation, and strategic minerals.

The delegations also reviewed progress on initiatives announced during the 23rd India-Russia Annual Summit held last December. Russian President Vladimir Putin visited India for the summit, after which Prime Minister Modi and Putin outlined several measures, including a five-year roadmap to build a robust economic partnership and raise annual bilateral trade to $100 billion by 2030.

Jaishankar and Manturov also exchanged views on regional and global developments, including the West Asia conflict, the MEA added. The Russian statement further highlighted cooperation in the civil nuclear energy sector.

“As emphasised by Denis Manturov, Russia sees significant potential for deepening engagement with India in this area,” it said.

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