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Why are India and Russia strengthening their energy ties now?
India has increased its imports of Russian oil since the invasion of Ukraine, seeking discounted fuel amid Western sanctions. Russia views India as a key partner to maintain its economic stability and expand its markets despite Western pressure. The recent summit in New Delhi highlights their focus on energy, defense, and trade, signaling a strategic alliance that benefits both countries.
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How does US pressure influence India's foreign relations with Russia?
The US has imposed sanctions and tariffs on India for purchasing Russian energy, aiming to curb its reliance on Moscow. Despite this, India continues to buy Russian oil, balancing its energy needs with diplomatic pressures. This complex relationship shows India's desire to maintain independence in foreign policy while navigating US and Western sanctions.
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What does this mean for global energy markets and US sanctions?
India's increased energy ties with Russia could impact global oil prices and supply chains. It also challenges US sanctions, which aim to isolate Russia economically. As India and Russia deepen their cooperation, Western countries may need to reconsider their strategies to influence global energy flows and geopolitical stability.
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Are there risks for India and Russia in deepening their alliance?
Yes, both countries face potential diplomatic and economic risks. India risks straining its relations with Western allies and facing sanctions, while Russia risks further isolation from Western markets. However, both see strategic benefits in strengthening their partnership amid ongoing geopolitical tensions.
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Could this shift impact other countries' energy supplies?
Potentially. As India and Russia bolster their energy cooperation, other nations might seek alternative sources or face increased competition for Russian energy. This could influence global energy prices and supply stability, especially if Western sanctions limit Russia's access to certain markets.