As Russia turns to Asia, India a ‘natural option’ for Moscow beyond China, says EAM Jaishankar

India is a natural option for Russia as Moscow turns increasingly towards Asia after its ties with Europe turned bitter, with New Delhi's relationship with Moscow staying steady for nearly eight decades.

External Affairs Minister S Jaishankar made the remarks on Tuesday while speaking to John Micklethwait, Editor-in-Chief of the Bloomberg New Economy Forum, in New Delhi. He said the Russia-Europe relationship had become "pretty much a broken, embittered relationship" since the Ukraine war.

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"Historically, Russia has always seen itself as a European country. The result of what has happened because of the Ukraine war is that Russia, perforce, has turned much more to Asia. In Asia, much of that is towards China. But I do believe it's in our interest, and in the world's interest, that Russia has multiple choices and that it has other relationships in Asia of great weight and consequence," he said.

Jaishankar said India had enjoyed decent ties with Russia from the early years and that these ties had stayed steady. "We are a natural option in that regard because we've had very decent relations with Russia from pretty much the early start... What we are doing right now is we are maintaining our relationship with Russia," he said.

'We are reassuring Russia'

The minister said India was reassuring Moscow that its ties with New Delhi remain steady even as the world and Russia's strategic calculations have changed.

"In my own words, we are reassuring Russia that while we understand today the world has changed, Russia has changed, the entire strategic calculation between Russia and Europe and Russia and the West has changed... We're not even passing a value judgment on it. All we are saying is that we, by maintaining our relationship, are reassuring Russia that something which has been built up over the last 75-80 years remains steady," he said.

He added that the relationship had helped the balance of power in Asia. "It's an option that has worked for both of us. It has had a steady impact on the balance of power and overall status quo in Asia, and we think that's a good thing," he said.

EU steps up pressure on Russia

His remarks come as the European Union increases economic pressure on Russia over the war in Ukraine. EU foreign policy chief Kaja Kallas on Monday announced nearly 1,600 sanctions listings against Russia's military-industrial complex and people linked to elections in Russian-occupied Ukrainian territories.

"The main topic is war in Ukraine. We have now 1,600 listings that we are putting forward regarding the Russian military-industrial complex, but also the sham elections in Russia regarding the occupied territories of Ukraine," Kallas said.

According to a European Council press release, the bloc adopted restrictive measures against 1,569 individuals and entities. These include 826 Russian companies and 743 individuals serving as chief executive officers of those companies. The latest package brings the total number of individuals and entities listed under the EU sanctions regime to nearly 4,600.

The measures target companies that supply components used in advanced Russian weapons systems, including missiles, drones and aircraft. These components include semiconductors, microcircuits, computers, communication equipment, radar systems, explosives, ammunition, optics and navigation systems.

The European Council said the measures respond to Russia's continued aggression against Ukraine, particularly attacks on civilian infrastructure. The sanctions announcement also came as Ukrainian President Volodymyr Zelenskyy questioned Russia's intentions amid US President Donald Trump's push for an energy ceasefire.

India-US trade deal 'heading towards a landing point'

At the same forum, Jaishankar said negotiations on the India-US trade deal were heading towards a possible conclusion, with officials from both countries working to resolve outstanding issues.

He said India was "pretty far advanced" in the process. "My sense is that this is an issue which is heading towards a landing point," he said. He declined to share details, saying there were still "a few things" to resolve.

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Jaishankar said the outcome would depend not only on the terms India and the US negotiate between themselves, but also on how those terms compare with deals Washington reaches with competing economies. "That part of it is not entirely clear because not everybody has worked out the deal," he said. He added that the US Trade Representative and India's Commerce and Industry Ministry were working to iron out the remaining issues.

Explaining the wider context, he said the US had taken a different approach to tariffs as it sought to rebuild its industrial base. "The US is today determined to reindustrialise and to reset the terms of access to its economy," he said. He added that major economies were negotiating with the US on these terms and India was not alone in the process.

Jaishankar also said the underlying areas of convergence between India and the US had not fundamentally changed. He described the relationship as a strategic partnership rather than a formal alliance.