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Leaked documents reveal India and Russia developed secret trade links, FT reports

by The Kyiv Independent news desk September 5, 2024 10:40 PM 2 min read
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi attend a ceremony to decorate India's PM with the Order of St. Andrew the Apostle the First-Called following their talks at the Kremlin in Moscow, Ukraine on July 9, 2024. (Alexander Nemenov / AFP via Getty Images)
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Russia and India developed covert trade links so the Kremlin could acquire components needed for its war effort, the Financial Times reported on Sept. 5.

Citing Russian state correspondence seen by the outlet, the Kremlin's industry and trade ministry acquired critical electronics, and explored the possibility of building facilities in India to produce them.

The documents show the plan was to be financed by "significant reserves" of rupees amassed from oil sales to India, and would source goods "previously supplied from unfriendly countries."

The FT says it is not clear how much of the plan was enacted, but trade data suggests a deepening relationship between the two countries in the goods mentioned in the leaked documents.

A historical ally of Russia, India has maintained its close economic and diplomatic ties with Moscow since February 2022, with bilateral trade reaching a historic high in 2023.

India overtook China as the world’s largest importer of Russian oil in July as Chinese refiners bought less due to lower profit margins from fuel production, Reuters reported on Aug. 22, citing a comparison of import data.

At the same time, India has been developing its relationship with Ukraine, with Prime Minister Narendra Modi visiting Kyiv last month, the first time an Indian prime minister set foot in Ukraine since diplomatic relations were established over 30 years ago.

Modi's visit to Ukraine came just weeks after his trip to Moscow, where he met with Russian President Vladimir Putin.

The visit included a widely criticized hug between the two leaders on July 8, hours after Russia bombed the Okhmatdyt children's hospital in Kyiv, killing two people.

What the fall of Pokrovsk would mean for Russia’s war in Ukraine
As Russian troops approach Pokrovsk, fear mounts over a possible loss of what had long been a key logistic hub tucked away in safety in Donetsk Oblast. The war has arrived in Pokrovsk, once home to 60,000 people, with the Russians estimated to be about eight kilometers away. Thousands
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