00:00Amid the buzz of Modi's visit to Russia, Moscow strengthens energy cooperation with New Delhi.
00:11New trade route and new deal inside Moscow's coal delivery.
00:18Russia has taken a significant step in expanding the trade route by sending coal to India via
00:23the International North-South Transport Corridor, also known as the INSTC, for the first time
00:29in history. This multimodal transport network, spanning approximately 7,200 km from St. Petersburg
00:35to Mumbai, includes railway, road and seaport connecting Russia to India via Iran.
00:43The Russian railway announced that two trains carrying coal from the Kemerovo region have
00:47embarked on its journey. The train will travel through Kazakhstan, Turkmenistan to reach
00:53the Iranian port of Bandar Abbas. From there, the coal will be shipped by sea to the final
00:59destination, the port of Mumbai in India. This development is part of Russia's strategy
01:05to find alternative trade routes in response to Western sanctions. These restrictions have
01:10forced Moscow to shift its trade focus from Europe to Asia and the Middle East.
01:16While the INSTC construction began in early 2000, the recent geopolitical changes have
01:22given it renewed importance. India has been increasing the coal purchases from Russia,
01:27taking advantage of discount offered to Asian buyers after Russia redirected exports away
01:32from the EU countries. Despite India's effort to expand the renewable energy, coal remains
01:37a primary source of power generation. Experts predict that India may overtake China as the
01:43largest buyer of Russian coal over the next decade.
01:48In a related development, India and Russia are also exploring the possibility of a visit
01:52by Prime Minister Narendra Modi to Moscow in early July for talks with President Putin.
01:58If this materializes, this will be Modi's first trip to Russia since 2019 and the first
02:03since the start of the Ukraine war. The last India-Russia summit was held in 2021 when
02:08Putin visited India. This high-potential meeting, coupled with the inaugural coal shipment via
02:14INSTC, underscores the growing economic and strategic ties between India and Russia. It
02:19also highlights the countries' efforts to strengthen their dynamic partnership amid
02:24the changing global dynamics.
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