Indian Prime Minister Narendra Modi pressed Russian President Vladimir Putin to wind down the war in Ukraine, telling him directly that the conflict has to stop, according to remarks made on the sidelines of the Shanghai Cooperation Organization summit on Monday.
“India supports all peace efforts in this area, and we will continue to do so,” Modi said, adding that “we must move from endless war to the end of war, to the cessation of hostilities.” He also warned that “every day that the war continues, humanity takes a step backwards.”
Modi’s plea came as Russia’s Defense Ministry said it is planning “massive strikes” on Ukraine’s energy infrastructure, days after an attack on an ammunition warehouse that killed 38 people, making it one of the deadliest strikes of the war. Ukrainian officials and security experts say Russian attacks on energy infrastructure this winter could be Kyiv’s toughest challenge yet.
U.S. tariff threat adds pressure
The diplomatic push also unfolds against a backdrop of looming U.S. trade penalties. Later this month, the U.S. House is expected to pass a bill that would impose tariffs of up to 100% on countries that are among the top five buyers of Russian crude oil or gas. China and India would fall under that scope.
Russia is currently India’s largest crude supplier, making up more than 50% of India’s oil imports in June and July and nearly 43% through August 24, according to the source. Between April and July, Russian exports to India rose above $34 billion—up nearly 60% from a year earlier, per India’s latest trade data.
During the meeting, Putin acknowledged the growth in bilateral trade, but noted that “last year saw a slight decline.”
Existing tariffs and oil diversification
The U.S. has already hit India with punitive tariffs. In August 2025, President Donald Trump imposed an extra 25% tariff on India for its energy trade with Russia, bringing the total levy on Indian exports to the U.S. to 50%. That rate has since been reduced to 18% earlier this year.
Washington has also signaled interest in boosting Venezuelan crude supplies to India as a way to replace Russian barrels, though no concrete deal has been announced.
Source: www.cnbc.com — https://www.cnbc.com/2026/09/01/russia-india-ukraine-war-oil-modi-putin.html
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