Speed Reads

Asking for Help

Russia asks India to send supplies as sanctions derail Moscow's economy

Amid the ongoing sanctions choking its economy, Russia has asked India for products to keep its key industries operational, Reuters reported Tuesday. 

Officials in Moscow have reportedly sent India a list of 500 parts for national manufacturing, sources familiar with the matter told Reuters. This includes parts for cars, aircraft, trains, and more. The list, however, is still in the provisional stage, and it is unclear to what extent India will honor the request — one source with the Indian government reportedly described the list as "unusual" in scope. 

Russia's request is part of an ongoing effort to get around Western economic sanctions put in place following the country's invasion of Ukraine. These sanctions were enacted by numerous governments and intergovernmental bodies, including the United States, European Union, and many European countries. Limits were placed on a wide variety of industries to try and stifle Russian growth. 

The Washington Post reported that these sanctions have significantly damaged Russia's wartime economy, despite ongoing assurance from Russian President Vladimir Putin that the invasion is working in Russia's favor. Figures released by the Russian Finance Ministry showed tax revenue from the non-oil and gas sector fell 20 percent in October, per the Post.

India has notably been one of the few boosters of the Russian economy, as the country bought nearly 40 percent of all seaborne exports from Russia's Urals region in November, per ReutersThis accounted for a higher purchase total than any other country.