While Russia remains a stable exporter of crude to the country, the two sides are exploring opportunities for supplies of gas to Indian cities, expansion of CNG filling stations and new oil, gas and petrochemical facilities, according to Roman Babushkin, Russia’s deputy chief of mission in India.
Also Read: India, Russia in advanced talks on critical minerals pact, sources say
This acquires significance as the West Asian crisis has hit energy supply chains and Russia maintains its position as the top supplier of crude to India. That’s set to continue as the US has extended the sanctions waiver on Russian oil exports to India. ET has learnt that India and Russia have held high-level discussions in recent weeks on the purchase of LPG from Russia. Also, there are reports that India is looking to explore new hydrocarbon assets in the east of the country.
Babushkin also referred to India-Russia civil nuclear cooperation gaining momentum and noted the success of the Kudankulam Nuclear Power Project, which features cutting-edge Russian technologies, including those that can be used in small modular reactors (SMRs). He also cited the recently adopted Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Act as being an enabler of further cooperation.
Russia has also become a steady supplier of sunflower oil (51%), fertilisers (25%) and beans (10%) to India. Joint ventures are being set up in the agriculture sector, according to Babushkin.
The diplomat was speaking to a select group comprising industry experts, investors and scholars at a meeting on Thursday organised by the Indo-Russia Innopratika Technology Hub that works closely with Niti Aayog.Rajya Sabha member and former foreign secretary Harsh Vardhan Shringla, who also addressed the gathering, said energy remains the most visible pillar of recent growth, and it will continue to matter. Russia supplied 33.3% of India’s crude oil imports in 2025. The bilateral energy relationship is not confined to crude imports. Rosneft holds a 49.13% stake in Nayara Energy, which runs a refinery in Vadinar that has a 20 million tonne per year capacity. Indian companies are present upstream in Russia: ONGC Videsh has a 20% participating interest in Sakhalin-1 and a 26% stake in Vankorneft.
He also cited the recently adopted Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act as being an enabler of further cooperation.
Russia has also become a steady supplier of sunflower oil (51%), fertilisers (25%) and beans (10%) to India. Joint ventures are being set up in the agriculture sector, according to Babushkin.
The diplomat was speaking to a select group comprising industry experts, investors and scholars at a meeting on Thursday organised by the Indo-Russia Innopratika Technology Hub that works closely with Niti Aayog.
Rajya Sabha member and former foreign secretary Harsh Vardhan Shringla, who also addressed the gathering, said energy remains the most visible pillar of recent growth, and it will continue to matter. Russia supplied 33.3% of India’s crude oil imports in 2025.
Also Read: India has leverage to pressure Russia to end Ukraine war: Estonian FM
The bilateral energy relationship is not confined to crude imports. Rosneft holds a 49.13% stake in Nayara Energy, which runs a refinery in Vadinar that has a 20 million tonne per year capacity.
Indian companies are present upstream in Russia: ONGC Videsh has a 20% participating interest in Sakhalin-1 and a 26% stake in Vankorneft.
This means that India-Russia energy ties are not transactional, they also include investment, equity, refining and infrastructure, the former foreign secretary pointed out.
Civil nuclear cooperation remains one of the most future-oriented areas of the partnership. Kudankulam is India’s only nuclear power project established with another country, said Shringla, also a Rajya Sabha MP.
He suggested possible AI cooperation between India and Russia. India has approved 10 semiconductor projects with envisaged investments of about $19.16 billion, Shringla said.