Russian presidential spokesperson Dmitry Peskov speaks to the media, in New Delhi, on Tuesday
| Photo Credit:
pti
Russian President Vladimir Putin will hold a bilateral meeting with Prime Minister Narendra Modi on Friday, ahead of the BRICS Summit, as the country looks to deepen trade and financial cooperation with India with greater use of national currencies emerging as a key priority, according to Moscow.
Defence deals, including the potential sale and transfer of technology for Russia’s Su-57 fifth-generation fighter jets and expansion of the jointly produced BrahMos missile programme, are expected to figure prominently on the agenda, along with negotiations on new nuclear power plants, Kremlin spokesperson Dmitry Peskov said in a media briefing on Tuesday.
Putin will participate in the summit in New Delhi on September 12-13, where he will promote security, the economy, finance and culture, Peskov said.
For India, bringing down its trade deficit with Russia is expected to be a key priority, with the gap crossing $50 billion in 2025-26. External Affairs Minister S Jaishankar recently flagged the imbalance during his visit to Moscow and stressed the need to increase India’s exports to Russia and diversify the trade basket.
“We are looking forward to President Putin and Prime Minister Modi having another bilateral meeting during the visit, scheduled for Friday …Our two leaders are in a very close personal contact and are very pragmatic in their relationship. They are as sincere as to be able to discuss in an open and constructive way the most sensitive of issues…,” Peskov said
US tariffs
The meeting will take place against the backdrop of proposed US legislation seeking tariffs of up to 100 per cent on countries buying Russian crude, which Peskov described as “illegal and unacceptable”. Russia remained India’s largest crude supplier in August 2026 despite the tariff threat.
“We cannot interfere in the diplomatic relations between the US and India…we have to be careful in creating an architecture of the relationship that must be free of any influence coming from any third country…,” Peskov said.
Defence ties
On defence co-operation, Peskov said Russia was waiting for negotiations with India on new nuclear power plants, while the sale of Su-57 aircraft was also on the agenda. Moscow is also keen to expand BrahMos co-operation.
“India has been asking for technology transfer for SU-57 and that is under discussion…We are jointly producing the BrahMos missiles, and it is time to think about improving those missiles…” Peskov said.
On payments, Peskov said Russia was not seeking ‘de-dollarisation’ and was open to every acceptable method of payment. “Use of national currencies is not de-dollarisation policy,” Peskov said. Russia turned to national currencies after being denied right to use dollar and euro, he added.
Around 90 per cent of transactions between Russia and BRICS countries are conducted in national currencies, Peskov noted.
India is also expected to seek greater opportunities for its companies in Russia, while energy, technology and rare earths are likely to feature in its agenda. “New Delhi wants Moscow to remove both tariff and non-tariff barriers,” a source said.
Published on September 8, 2026
