New Delhi: India’s imports from Russia jumped 57% in the first five months of the financial year, official data show, deepening an energy import-driven relationship even as New Delhi presses Moscow and Beijing for greater market access.Commerce ministry figures released on Tuesday put merchandise imports from Russia at $41.44bn from April-August 2026-2027, up from $26.45bn a year (Apr-Aug 2025-26) ago. Officials said the rise was led by the import of petroleum, fertilisers and vegetable oils.&nbsp;Bilateral trade is now approaching $70bn a year, with India's import of Russian energy that has significantly increased since the outbreak of conflict in Ukraine in 2022. The surge has left India with a large deficit. External Affairs Minister S Jaishankar raised the imbalance and sought better access for Indian goods during recent inter-governmental talks in Moscow.&nbsp;Also Read: <a href="https://www.wionews.com/world/imran-khan-s-sons-accuse-asim-munir-of-holding-personal-grudge-against-imprisoned-father-1789484359759">Imran Khan’s sons accuse Asim Munir of holding ‘personal grudge’ against imprisoned father</a>&nbsp;China remained India’s biggest source of imports over the same period, at $65.49bn against $51.56bn a year earlier. The United States followed at $28.09bn, then the United Arab Emirates at $24.36bn and South Korea at $12.10bn. On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.&nbsp;The China figures sit at the centre of a cautious diplomatic thaw. Over the weekend Prime Minister Narendra Modi and President Xi Jinping held their third bilateral meeting since 2024, on the sidelines of the BRICS summit in Delhi. An Indian readout said the two leaders “underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access.”&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/j-k-cm-omar-abdullah-praises-centre-over-pahalgam-attack-condemnation-at-brics-in-presence-of-pakistan-s-allies-1789478311956">J&amp;K CM Omar Abdullah praises Centre over Pahalgam attack condemnation at BRICS in presence of Pakistan’s allies</a>&nbsp;Commerce Minister Piyush Goyal then met his Chinese counterpart, Wang Wentao. Indian commerce officials described the meeting as an “initial first trading meeting” after a period of “gradual confidence building.” “We are open to engaging with them to find solutions to trade imbalances,” one official said. Both sides, they added, wanted to work on structural concerns. India’s deficit with China exceeded $112bn last financial year.&nbsp;BRICS itself featured in the trade numbers. Exports to all members rose 13% to $34.53bn in April–August; shipments to the original four partners, Brazil, Russia, China and South Africa, grew 34%. At the weekend BRICS summit in the Indian national capital, member countries focused on more intra-BRICS trade.&nbsp;Also Read: <a href="https://www.wionews.com/world/ai-has-the-potential-to-kill-us-all-ex-deepmind-researcher-sounds-alarm-on-superintelligence-threat-1789475011718">‘AI has the potential to kill us all’: Ex-DeepMind researcher sounds alarm on superintelligence threat</a>&nbsp;New Delhi is also advancing several other talks for free trade agreements and larger trade pacts. Forty-eight Canadian officials are in Delhi for talks on a Comprehensive economic partnership agreement. 2 chapters of a potential agreement are complete and both sides hope to finish by year-end. An India–EU free-trade deal is “moving as per plan” and is also expected to be signed by December.&nbsp;&nbsp;A pact with New Zealand is due to take effect in the second half of October. Indian Trade Minister Goyal will travel to the United States for a G20 trade ministers’ meeting, where he is expected to meet his counterpart to discuss bilateral issues, including the interim trade arrangement that was announced in February.

On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.

New Delhi: India’s imports from Russia jumped 57% in the first five months of the financial year, official data show, deepening an energy import-driven relationship even as New Delhi presses Moscow and Beijing for greater market access. Commerce ministry figures released on Tuesday put merchandise imports from Russia at $41.44bn from April-August 2026-2027, up from $26.45bn a year (Apr-Aug 2025-26) ago. Officials said the rise was led by the import of petroleum, fertilisers and vegetable oils. Bilateral trade is now approaching $70bn a year, with India's import of Russian energy that has significantly increased since the outbreak of conflict in Ukraine in 2022. The surge has left India with a large deficit. External Affairs Minister S Jaishankar raised the imbalance and sought better access for Indian goods during recent inter-governmental talks in Moscow. Also Read: Imran Khan’s sons accuse Asim Munir of holding ‘personal grudge’ against imprisoned father China remained India’s biggest source of imports over the same period, at $65.49bn against $51.56bn a year earlier. The United States followed at $28.09bn, then the United Arab Emirates at $24.36bn and South Korea at $12.10bn. On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods. The China figures sit at the centre of a cautious diplomatic thaw. Over the weekend Prime Minister Narendra Modi and President Xi Jinping held their third bilateral meeting since 2024, on the sidelines of the BRICS summit in Delhi. An Indian readout said the two leaders “underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access.” Also Read: J&K CM Omar Abdullah praises Centre over Pahalgam attack condemnation at BRICS in presence of Pakistan’s allies Commerce Minister Piyush Goyal then met his Chinese counterpart, Wang Wentao. Indian commerce officials described the meeting as an “initial first trading meeting” after a period of “gradual confidence building.” “We are open to engaging with them to find solutions to trade imbalances,” one official said. Both sides, they added, wanted to work on structural concerns. India’s deficit with China exceeded $112bn last financial year. BRICS itself featured in the trade numbers. Exports to all members rose 13% to $34.53bn in April–August; shipments to the original four partners, Brazil, Russia, China and South Africa, grew 34%. At the weekend BRICS summit in the Indian national capital, member countries focused on more intra-BRICS trade. Also Read: ‘AI has the potential to kill us all’: Ex-DeepMind researcher sounds alarm on superintelligence threat New Delhi is also advancing several other talks for free trade agreements and larger trade pacts. Forty-eight Canadian officials are in Delhi for talks on a Comprehensive economic partnership agreement. 2 chapters of a potential agreement are complete and both sides hope to finish by year-end. An India–EU free-trade deal is “moving as per plan” and is also expected to be signed by December. A pact with New Zealand is due to take effect in the second half of October. Indian Trade Minister Goyal will travel to the United States for a G20 trade ministers’ meeting, where he is expected to meet his counterpart to discuss bilateral issues, including the interim trade arrangement that was announced in February.

On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.

India’s imports from Russia jump 57% in five months; China remains top import source

Ukrainian President Volodymyr Zelensky thanked India for its efforts to help bring the Russia-Ukraine war to an end during his meeting with External Affairs Minister S Jaishankar.&nbsp;Zelensky said he and Jaishankar held discussions on several “important issues” and stressed India's position on the need for peace.&nbsp;“Held a meeting with the Minister of Foreign Affairs of India, Subrahmanyam Jaishankar. We discussed important issues. We are grateful to India for its desire to end this unjust war—the war of Russia against Ukraine. This time must certainly not be a time of war. Peace is needed. This is India's clear position,” Zelensky said in a post on X, where he also shared glimpses of the meeting.&nbsp;Zelensky also referred to the Russian drone attacks launched while Jaishankar was visiting Ukraine. He said Russia used ‘Shaheds’ drones and alleged that their development was not possible without Iran's assistance. According to Zelensky, Ukraine's combat aviation ensured the safety of the delegation.&nbsp;The Ukrainian president said the talks also covered the situation in the Black Sea, particularly the risks facing civilian shipping.&nbsp;“We agree that it is absolutely unacceptable to block the supply of food to those regions where it is highly sensitive and people depend on the relevant sea routes. Russian actions aimed at blocking our ports, our grain corridor, and our supplies are indeed injecting major disruption into global relations,” Zelensky wrote.&nbsp;Jaishankar said his meeting with Zelensky centred on possible approaches to bring the ongoing conflict to an end.

<blockquote class="twitter-tweet">I met with India’s Minister of External Affairs <a href="https://x.com/DrSJaishankar?ref_src=twsrc%5Etfw">@DrSJaishankar</a>. We discussed important issues. We are grateful to India for its commitment to ending this unjust war – Russia’s war against Ukraine. This certainly must not be a time of war. Peace is needed. This is India’s clear… <a href="https://t.co/ZJ4IRP7Qpx">pic.twitter.com/ZJ4IRP7Qpx</a>&mdash; Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) <a href="https://x.com/ZelenskyyUa/status/2095503225193365937?ref_src=twsrc%5Etfw">September 3, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

The External Affairs Minister had earlier offered India's assistance in efforts to resolve the war, saying, “If India can be of any help, in any manner, we are there”.&nbsp;Also Read: <a href="https://www.wionews.com/world/major-ai-platforms-chatgpt-claude-and-grok-hit-by-simultaneous-service-disruptions-1788448837619">Major AI platforms ChatGPT, Claude, and Grok hit by simultaneous service disruptions</a><h2>Conflict will not be solved whether India buys Russian oil or not</h2>The External Affairs Minister also addressed India's purchase of Russian oil when asked whether New Delhi would reduce its purchases from Moscow if the US approves sanctions against countries buying Russian oil.&nbsp;"I think it's also important that all of you get the challenges of providing for energy for 1.4 billion people at a time when the world energy situation is very, very difficult. So, I would say, I mean, this is something where clearly the Ukraine side has its perspective, which we respect, and we have ours, which I would expect others to also respect," Jaishankar said while responding to queries after his meeting with Ukrainian Foreign Minister Andrii Sybiha in Kyiv.&nbsp;"But let me just add this. You know, this conflict, which is today in its third year, will not be solved because somebody is buying or not buying oil or alumina or minerals or metals or fertiliser. This conflict will be solved by dialogue, by diplomacy, and by negotiation. And that is why it is something we would encourage," he added.

Jaishankar said the Russia-Ukraine conflict cannot be resolved by buying or not buying Russian oil, stressing that dialogue, diplomacy and negotiation remain the way forward.

Ukrainian President Volodymyr Zelensky thanked India for its efforts to help bring the Russia-Ukraine war to an end during his meeting with External Affairs Minister S Jaishankar. Zelensky said he and Jaishankar held discussions on several “important issues” and stressed India's position on the need for peace. “Held a meeting with the Minister of Foreign Affairs of India, Subrahmanyam Jaishankar. We discussed important issues. We are grateful to India for its desire to end this unjust war—the war of Russia against Ukraine. This time must certainly not be a time of war. Peace is needed. This is India's clear position,” Zelensky said in a post on X, where he also shared glimpses of the meeting. Zelensky also referred to the Russian drone attacks launched while Jaishankar was visiting Ukraine. He said Russia used ‘Shaheds’ drones and alleged that their development was not possible without Iran's assistance. According to Zelensky, Ukraine's combat aviation ensured the safety of the delegation. The Ukrainian president said the talks also covered the situation in the Black Sea, particularly the risks facing civilian shipping. “We agree that it is absolutely unacceptable to block the supply of food to those regions where it is highly sensitive and people depend on the relevant sea routes. Russian actions aimed at blocking our ports, our grain corridor, and our supplies are indeed injecting major disruption into global relations,” Zelensky wrote. Jaishankar said his meeting with Zelensky centred on possible approaches to bring the ongoing conflict to an end.

Jaishankar said the Russia-Ukraine conflict cannot be resolved by buying or not buying Russian oil, stressing that dialogue, diplomacy and negotiation remain the way forward.

Zelensky ‘grateful’ for India’s push to end Ukraine war after meeting Jaishankar in Kyiv

US President Donald Trump has backed proposed legislation that could expose India to tariffs of up to 500 per cent over its continued purchases of Russian oil, according to a White House official.&nbsp;Responding to a query from ANI, the official confirmed Trump's support for the proposed Sanctioning Russia Act, saying simply, "President Trump supports the bill."&nbsp;Also read: <a href="https://www.wionews.com/world/kuwait-hostile-targets-iran-attacks-us-military-bases-explosions-1784045139098">Iran claims fresh strikes on US military bases in Kuwait as explosions rock Gulf</a>&nbsp;The legislation was introduced by the late Republican Senator Lindsey Graham along with Democratic Senator Richard Blumenthal. If approved by Congress, it would authorise the US president to impose tariffs of up to 500 per cent on imports from countries that continue to purchase oil, gas and other energy products from Russia.&nbsp;India and China have been identified as the primary focus of the proposed measure. During his campaign for the bill, Graham repeatedly argued that pressure should not be limited to Moscow but should also target countries that continue to finance Russia's energy exports.&nbsp;According to Graham, India and China together account for nearly 70 per cent of Russia's oil, gas and petroleum exports. He maintained that reducing demand from the two countries would significantly increase economic pressure on Moscow and could help bring the war in Ukraine to a closer end.&nbsp;Also read: <a href="https://www.wionews.com/world/trump-pays-5-6-million-to-e-jean-carroll-in-sexual-assault-and-defamation-case-1784051932141">Trump pays $5.6 million to E. Jean Carroll in sexual assault and defamation case</a>&nbsp;If enacted, the legislation would grant the US president one of the broadest authorities ever granted by Congress to impose secondary tariffs on countries that trade with Russia's energy sector.&nbsp;The proposal comes at a sensitive time for India after a temporary waiver issued by the US Treasury expired on June 17, 2026. The waiver had allowed India's purchases of Russian crude without attracting US sanctions. Its expiry has left Indian imports of Russian oil in a legal grey area, increasing uncertainty for businesses and policymakers.

Trump backs the Sanctioning Russia Act, proposing up to 500% tariffs on India and China for importing Russian oil, following the June 2026 expiry of a US sanctions waiver.

US President Donald Trump has backed proposed legislation that could expose India to tariffs of up to 500 per cent over its continued purchases of Russian oil, according to a White House official. Responding to a query from ANI, the official confirmed Trump's support for the proposed Sanctioning Russia Act, saying simply, "President Trump supports the bill." Also read: Iran claims fresh strikes on US military bases in Kuwait as explosions rock Gulf The legislation was introduced by the late Republican Senator Lindsey Graham along with Democratic Senator Richard Blumenthal. If approved by Congress, it would authorise the US president to impose tariffs of up to 500 per cent on imports from countries that continue to purchase oil, gas and other energy products from Russia. India and China have been identified as the primary focus of the proposed measure. During his campaign for the bill, Graham repeatedly argued that pressure should not be limited to Moscow but should also target countries that continue to finance Russia's energy exports. According to Graham, India and China together account for nearly 70 per cent of Russia's oil, gas and petroleum exports. He maintained that reducing demand from the two countries would significantly increase economic pressure on Moscow and could help bring the war in Ukraine to a closer end. Also read: Trump pays $5.6 million to E. Jean Carroll in sexual assault and defamation case If enacted, the legislation would grant the US president one of the broadest authorities ever granted by Congress to impose secondary tariffs on countries that trade with Russia's energy sector. The proposal comes at a sensitive time for India after a temporary waiver issued by the US Treasury expired on June 17, 2026. The waiver had allowed India's purchases of Russian crude without attracting US sanctions. Its expiry has left Indian imports of Russian oil in a legal grey area, increasing uncertainty for businesses and policymakers.

Trump backs the Sanctioning Russia Act, proposing up to 500% tariffs on India and China for importing Russian oil, following the June 2026 expiry of a US sanctions waiver.

Trump backs bill threatening India with 500% tariffs over Russian oil imports, says report

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India’s imports from Russia jump 57% in five months; China remains top import source

Zelensky ‘grateful’ for India’s push to end Ukraine war after meeting Jaishankar

Trump 'backs' bill threatening India with 500% tariffs over Russian oil imports