Russian President Vladimir Putin on Thursday slammed Donald Trump's administration for pressuring its trading partner India to cut back energy trade with Moscow, warning that it would backfire on Washington.
Speaking at the international Valdai discussion forum of security and geopolitical experts from 140 countries, including India, in the Black Sea resort of Sochi in South Russia, Putin said that if higher tariffs were imposed on Russia’s trade partners, it would drive up global energy prices and force the US Federal Reserve to keep interest rates high. That, he warned, would slow down the US economy.
The Russian President also expressed his anticipation for his upcoming visit to India in early December. He ordered the government to devise measures to soften the trade imbalance with India due to the heavy import of crude by New Delhi.
"We have never had any problems or interstate tensions with India. Never," the Russian leader noted.
Putin said New Delhi has no reason to bow to outside pressure. "India will never allow itself to be humiliated," he said, adding that Prime Minister Narendra Modi would never take such a step.
He said that if India stopped buying Russian energy, it would face losses estimated between $9 billion and $10 billion. "The people of a country like India, believe me, will closely monitor the decisions made by the political leadership and will never allow any humiliation in front of anyone," he said.
Putin referred to Prime Minister Narendra Modi as his friend, noting that he feels comfortable in their trustworthy interactions.
"I know Prime Minister Modi; he himself would never take any steps of this kind," he said.
Putin called it "pointless" from an economic perspective.
"The losses faced by India due to punitive US tariffs would be balanced by crude imports from Russia, plus it will gain prestige as a sovereign nation," Putin said.
He said that to remove the trade imbalance, Russia may buy more agricultural products and medicines from India. "More agricultural products may be purchased from India. Certain steps can be undertaken from our side for medicinal products, pharmaceuticals," Putin stated.
The Russian leader also pointed at Washington's hypocrisy as US pressures countries like India over Russian energy imports, it continues to depend on Moscow for other resources.
"The United States is one of the largest, if not the largest, states using nuclear power plants. Since nuclear energy is well developed in the US, it requires a large amount of fuel. We are not the largest supplier, but Russia is the second-largest supplier of uranium to the American market," Putin said.
