Russian President Vladimir Putin is scheduled to meet with two prominent world leaders this week, Indian Prime Minister Narendra Modi and Chinese President Xi Jinping. Moscow has found economic refuge in Beijing and New Delhi as the West attempts to cripple the Russian economy through an unprecedented sanctions campaign.
In response to Russia’s invasion of Ukraine, President Joe Biden has led America’s NATO allies in an economic war against Moscow. The Biden White House has targeted Russia with waves of sanctions in an effort to isolate and cripple its economy. However, the sanctions spree appears to have backfired, as inflation continues to plague Western countries while Moscow has been able to maintain its economic strength by boosting exports to India, China and several other non-NATO states.
Putin will meet with both Modi and Xi in Uzbekistan, while talks with the Chinese president will take place Thursday. The trip to Central Asia will be Xi’s first international outing in two years, underscoring the “special relationship” China’s leader has with Putin.
The two major powers plan to cover issues related to Ukraine and Taiwan, where both Russia and China see American involvement as crossing key red lines. “The presidents will discuss both the bilateral agenda and the main regional and international topics,” Russian official Yuri Ushakov said.
On Friday, Modi will travel to Uzbekistan for a meeting with Putin. On top of the agenda is Moscow’s economic ties with New Delhi, with the Kremlin stating “There are plans to discuss issues of ‘saturation’ of the Indian market with Russian fertilizer and bilateral food supplies.”
After being hit with Western sanctions, the Indian market has been a vital lifeline for Russia. So far in 2022, trade between Moscow and New Delhi is up nearly 120%, according to Russian officials. A critical export has been Russian fertilizer, as Delhi has imported more of the good so far this year than in all of 2021.
Last week, Modi declared plans expand his country’s energy agreement with the Kremlin, saying that “India is keen to strengthen its partnership with Russia on Arctic issues. There is also immense potential for cooperation in the field of energy.” Moreover, Delhi increased its oil imports from Moscow to nearly one million barrels per day in June, hitting record levels.
