Russia is trying to shift its trade routes from Europe to Asia, specifically with India, which is a strategic partner in industries such as military technology and energy. Despite the low shares of mutual trade in the past, Moscow hopes to resist Western sanctions and maintain relations with one of the fastest growing countries in the region.
In 2022, Russian trade with India increased 2.4 times, and both countries expect further growth in trade with the transition to national currencies and the creation of logistics chains through Iran. However, there may be challenges such as a higher oil price, potential sanctions from the U.S. or EU, and India’s cautious approach due to Moscow’s relations with China and Pakistan.
Special Collection – The Middle East