Submission statement
India and Russia are in discussions regarding a potential free trade agreement (FTA), according to Russian trade minister Denis Manturov. The talks signal a strengthening of economic relations between the two nations, despite Western calls for India to distance itself from Russia following its invasion of Ukraine in February 2022. India's imports from Russia have increased fourfold in the past fiscal year, primarily due to oil. The FTA negotiations follow disruptions caused by the COVID-19 pandemic to earlier discussions between India and the Russian-led Eurasian Economic Union. This development comes as India is also engaging in FTA discussions with Britain, the European Union, and the Gulf Cooperation Council. The move aligns with Russia's strategy to circumvent the impact of Western sanctions by increasing trade with Asian powerhouses, such as India and China.
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