Free Trial

Indian Criticism Of Russian Invasion Part Of Broader Geopolitical Shift

INDIA

Indian officials have continued to subtly condemn Russian actions in Ukraine and distance themselves from Moscow in remarks at the UNGA.

  • India FM Jaishankar told the United Nations General Assembly today: "The trajectory of the Ukraine conflict is a matter of profound concern for the entire international community. The future outlook appears even more disturbing. The nuclear issue is a particular anxiety... Clearly, as Prime Minister Narendra Modi has emphasized, this cannot be an era of war."
  • Happymon Jacob at FP writes that India's pivot on Russia is part of "...a subtle but major shift...: India’s slow but inevitable decoupling from Russia."
  • Jacob claims that the oft-mentioned Indian dependence on Russian military hardware has become less pronounced in the past 10 years. Moreover, an Indian political elite which mistrusted the US has been replaced with a more business orientated elite.
    • Also to be noted, US-India trade dwarfs Russia-India trade by 10x and 4.2m people of Indian decent live in the US, compared to 30,000 in Russia.
  • In the short term, despite India likely contining to purchase discounted Russian oil, Russia is looking increasingly isolated in the diplomatic space.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.