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  • 21 Sep, 2024

Oil, nuclear power and sustainable trade: Key outcomes of Putin-Modi summit

Oil, nuclear power and sustainable trade: Key outcomes of Putin-Modi summit

Following the bilateral talks, Moscow and New Delhi outlined plans to further strengthen economic ties and accelerate projects that could reshape Eurasia's geopolitical landscape.

Prime Minister Narendra Modi's two-day visit to Moscow for the 22nd India-Russia Annual Summit culminated in a joint statement on areas such as energy and defense cooperation, trade, space and connectivity. Moscow and New Delhi signed nine separate agreements, including on  cross-border investment, trade and investment facilitation, and cooperation on climate change and low-carbon development in Russia's Far East until 2029. Russia was chosen as Modi's first bilateral visit destination after securing his third consecutive term in power. It was also his first visit to the country since fighting broke out in Ukraine in 2022.

Peace efforts While the bilateral talks  focused primarily on economic cooperation between the two countries, the leaders also held "frank" discussions on the Ukrainian conflict and the global geopolitical situation. A day after spending a few hours at Russian President Vladimir Putin's official residence outside Moscow ahead of closed-door talks in the Kremlin, Modi said a solution to the conflict "cannot be found on the battlefield" and noted the high number of civilian deaths, especially children, "makes your mind explode".

The Russian president thanked Modi for focusing on "the world's most pressing problems", including "finding a way to resolve the Ukraine crisis". The Indian prime minister noted that Putin has "very openly expressed his views" on the Ukrainian conflict and said the meeting had produced "very interesting ideas" and "completely new perspectives". "Listening to President Putin, I can say that  I have hope," Modi added. The friendly exchange between the two politicians during Modi's stay in the Russian capital has infuriated Kiev and Washington. The US government has repeatedly expressed "concerns" about New Delhi's close ties with Moscow.