The entire world, especially India, is eagerly awaiting a positive outcome from the historic Trump-Putin summit in Alaska on Friday. The meeting between the two presidents carries critical importance to India's economy and trade.
The outcome of the summit will have significant implications for India's broader economy, given the central role that Russian energy imports now play in its growth strategy. Over the past two years, discounted Russian crude has helped India manage inflation, stabilise its current account, and keep fuel prices relatively low.
In the first half of 2025, India received approximately 1.75 million barrels per day (bpd) of Russian crude, accounting for around 35% of its total oil imports. In June 2025, imports climbed to 2.08 million bpd, marking an 11-month high and making up roughly 40% of India’s oil imports. In the 2023–24 fiscal year, Russia’s share in India’s crude import mix had risen to 35%, up from just 23% the year before.
Any outcome from the summit that leads to an easing of US-Russia tensions or a reconfiguration of sanctions could secure India’s continued access to cheap energy, supporting manufacturing competitiveness and export stability.
Conversely, if the talks collapse and Washington tightens pressure on Moscow’s oil exports, India could face costlier energy imports, a weaker rupee, and a knock-on effect on domestic prices, potentially constraining fiscal space and growth prospects.
Trump announced the summit on August 8 — the same day his deadline expired for Moscow to accept a ceasefire or face tougher US sanctions. Three earlier rounds of talks between Russia and Ukraine, held at Trump’s urging over the summer, failed to produce any breakthrough.
The talks will be hosted at Joint Base Elmendorf-Richardson, Alaska’s largest military installation and a key US Arctic defence hub.The choice of Alaska carries historic significance: the US purchased the territory from Russia in 1867, and the two nations remain neighbours, separated only by the Bering Strait. Russian presidential aide Yuri Ushakov said it was “quite logical” for the delegation to “fly over the Bering Strait” for such an important summit.
Trump has made ending the Ukraine war a priority, repeatedly claiming he could have prevented Russia’s 2022 invasion and promising to secure peace within 24 hours if elected.
White House has described the Alaska session as a “listening exercise” and suggested Trump may visit Russia afterwards. Speaking to reporters, Trump called it a “feel-out meeting” to encourage Putin to halt the conflict.
Ukrainian President Volodymyr Zelensky is not expected to be present in Anchorage. Trump said Zelensky “could go” but noted he had already attended “a lot of meetings.”
Putin reportedly opposed Zelensky’s participation, although Trump had previously been open to a trilateral format. Zelensky has warned that any deal made without Ukraine’s involvement would be “dead decisions.”
Both Kyiv and Moscow have said they want the war to end, but remain far apart on core issues. Trump has indicated he will try to recover some Russian-occupied territory for Ukraine, while also hinting there may need to be “swapping” or “changes in land.” Ukraine has firmly rejected such compromises, insisting on full restoration of its territory, including Crimea.
Putin continues to demand Ukrainian neutrality, limits on its armed forces, and recognition of Russian control over seized regions.
The Trump administration has been sounding out European leaders on a potential ceasefire proposal that would allow Russia to retain Crimea and the Donbas region — comprising Donetsk and Luhansk — while ceding the partly occupied Kherson and Zaporizhzhia regions back to Ukraine.
US Vice-President JD Vance says any agreement would inevitably be imperfect. “You’ve got to make peace here… you can’t finger point,” he told Fox News. “The way to peace is to have a decisive leader to sit down and force people to come together.”
