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India, Russia-led Eurasian union review trade talks
Financial Express Chandigarh
|November 17, 2025
Both sides are eyeing $100 bn in trade by 2030
INDIA AND THE Russia-led Eurasian Economic Union (EAEU) last week discussed issues related to payments in local currencies, logistics and standards to improve predictably and ease of doing business as work to diversify trade beyond oil and make it more balanced.
In the EAEU where Russia dominates, India-Russia trade has been dominated by oil. The oil trade has led to a huge trade surplus for Russia, which India is seeking to bring down. Sharpening international scrutiny of Russia’s energy trade and sanctions has added an additional layer of urgency to the negotiations.
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