Putin's Visit to Delhi: A Crucial Meeting for India's Energy Security

Vladimir Putin's plane has landed in Delhi. On the same morning, Brent crude was flashing on the market screen. The rupee slipped. The stock market hit a three-month low. Now the focus is on the room where Prime Minister Narendra Modi and Putin will sit face-to-face. The question is not whether petrol will become cheaper the day after this meeting. The real question is big. Between expensive oil and declining Russian production, will India be able to find a way to price itself cheaply, secure payments, and provide a steady supply? India, Russia, and Putin's coils are showing a strong negotiating position. But the stars do not say that Moscow will give India a free hand by giving up its earnings. The path may be clear, but its terms will not be easy. On September 11, Brent crude went above $108 amid rising tensions in West Asia and the threat of rising sea prices. Crude oil rose close to 13% in a week. Its impact on the Sensex and the dollar index in India was immediate. The rupee reached a three-month low.