External Affairs Minister S Jaishankar, on a three-day Moscow visit, flagged India’s soaring $58.9 billion trade deficit with Russia, largely due to crude imports. The trip comes amid Trump’s tariff heat on India.

At the 26th India-Russia Inter-Governmental Commission, External Affairs Minister S Jaishankar calls for urgent action to correct the widening trade gap and outlines a roadmap for deeper economic enga

"The odds of a peace deal are rising, which would very likely lead to easing sanctions on Russian oil product,s moving global supplies to more of a surplus," Dennis Kissler of BOK Financial said in a note.

Russia will continue supplying oil to India and the country's President Vladimir Putin will meet India's Prime Minister Narendra Modi in New Delhi by the end of year, a Russian embassy official in India said on Wednesday.

Russian diplomat Roman Babushkin, in a press briefing, laid out the red carpet for India to export its products to Russia amid punitive US tariffs while castigating Trump for humiliating its 'friends'.

The trade deal talks with EAEU were stalled in early 2022 after the Ukraine war. The grouping comprises Armenia, Belarus, Kazakhstan, Kyrgyz Republic, apart from Russia.

The ongoing Russia-Ukraine conflict serves as a pivotal laboratory for modern warfare, offering crucial strategic and tactical insights particularly relevant for India's national security

"They are reselling, they made $16 billion on excess profits - some of the richest families in India," he said