Modi's Dilemma: Russia's War and India's Economic Interests The recent meeting between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin has highlighted the complexities of India's position on the Ukraine war.
As a key player in the Shanghai Cooperation Organization, Modi's call for an end to hostilities is welcome but also underscores the country's precarious economic relationship with Russia.
India has been one of the largest consumers of Russian crude oil, accounting for more than 50% of its imports in recent months. Between April and July, Russian exports to India rose by nearly 60%, reaching $34 billion.