President Vladimir Putin on Friday gave a statement from the St. Petersburg International Economic Forum (SPIEF) regarding the growing credibility of India and China in the world. He once again said that there have been fraternal relations between India and Russia since 1947. He said, ‘We know how talented and well educated the Indian people are. Indians have excellent capabilities, which have gained fame across the world, especially in coding and other fields.

Russia invested $25 billion in India: Putin

Putin said that Russia’s big oil company Rosneft has invested $25 billion in India’s economy, which has been used to build oil refineries, ports and gas stations (petrol pumps). The Indian economy is facing some challenges due to the conditions in the Middle East. In such a situation, Russia is supporting India like a helpful friend by increasing the supply of energy (oil and gas) and sharing its technology. Both the countries are working together so that good results can be achieved and this cooperation can become stronger in future.

India does not bow down to external pressure: Putin

Putin once again said that India is a country which never bows down to any external pressure. Regarding China, Putin said, ‘It also takes its sovereignty and its own decisions independently. Because of its strength, China does not come under any external control.

What did Putin say on Russia-China relations?

Putin said that there is an equal partnership between Russia and China in the energy and high-tech sector. The quantity of high-tech machines and equipment sent from Russia to China is continuously increasing. Russia is building a nuclear power plant in China. In this, 4 blocks are already working and 4 other blocks are currently being built on the basis of Russian technology. Both the countries share information, data and technology among themselves and will continue to do so in the future.

Putin’s advice to America

Putin has warned that rising oil prices could fuel global inflation. He said, ‘If oil prices remain high, it affects the entire economy. Due to this, there is a danger of inflation increasing in the big economies of the world, especially America. The US dollar is no longer based on gold (Gold Standard). Its strength and stability depend entirely on the confidence and stability of the American economy.

He said, ‘Low inflation is the most important condition to keep the economy stable. If oil becomes expensive and inflation increases, it could threaten the foundation of the American economy. To avoid these economic difficulties, it is very important to bring stability in the oil sector.

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Russian President Vladimir Putin on Thursday (June 4, 2026) praised India and Prime Minister Narendra Modi. He said that the relations between India and America do not harm the relations between New Delhi and Russia. He said that India is among the largest economies of the world and currently has an impressive economic growth rate. He said, ‘I am confident that bilateral trade between Russia and India will reach 100 billion US dollars in the coming years.’

Putin said that although America tries to put pressure on India regarding India’s relations with Moscow, such efforts are ineffective in front of Prime Minister Narendra Modi. He said, ‘America is trying to put pressure on India on many issues including cooperation with Russia, but India will resist such efforts.’

India one of the fastest growing economies: Putin

The Russian President said, ‘India is one of the largest and fastest growing economies in the world today. This success is the result of the hard work of the people of India and the excellent strategies made by the government under the leadership of Prime Minister Narendra Modi. Russia does not see India’s bilateral relations with any other country as having any negative consequences.

Vladimir Putin said, ‘There is a special privileged strategic partnership between Russia and India. This relationship is not new, but is decades old. When India became independent in 1947, the Soviet Union (Russia) immediately established diplomatic relations and provided all possible help in taking India forward as a newly independent country.

He said, ‘India and Russia are not limited to just energy and nuclear energy, but are also working in new areas. Russia has a huge investment in the Indian economy. Since India is very strong in pharmaceuticals, Russian companies are ready to work on many interesting projects with India.

Pressure cannot be put on PM Modi: Putin

Putin said, ‘It is true that America tries to put pressure on India in many matters (especially regarding cooperation with Russia), but putting any kind of pressure on PM Modi is harmful for international and bilateral relations. This means that pressure cannot be put on PM Modi. This pressure is not having any effect on India. Russia considers India a very reliable partner.

America will again ban the purchase of Russian oil

Putin’s statement comes at a time when America said on Tuesday (June 2, 2026) that it wants to end the sanctions relief given to countries buying Russian oil. The US argued that these measures were for a limited period of time to maintain global supplies in the wake of the Iran war. Speaking before the Senate Foreign Policy Committee, Secretary of State Marco Rubio said the final decision regarding the Russian exemption would be made by the Treasury Department.

In March, America had exempted the sanctions on the purchase of Russian oil and extended it twice. Last time this relaxation was given for one month on 17th May. India is one of the countries that has benefited from the exemption from US sanctions on the purchase of Russian oil.

India’s public stance is clear that the country’s energy policy will be decided in New Delhi. The Ministry of External Affairs has bluntly said that India will continue to take decisions related to its oil imports only keeping in mind energy security, national interest and economic needs.