A report said that the Indian government is
working on a proposal to allow up to five nationalized
Indian banks to be engaged in the rupee-ruble trade
mechanism, and discussions between the central bank
governor, the finance minister, and the banks on the
matter have already been held. (RT, 2022). The
arrangement would let Indian exporters continue
doing business with Russia despite sanctions
banning, among other things, international payment
mechanisms in the country, such as SWIFT.
It would also let India continue buying Russian
energy exports and other goods. Merchandise trade
between India and Russia stood at $10.75 billion in
the first 10 months of FY22, with India exporting
goods worth about $2.8 billion and importing goods
worth $7.9 billion.
It is worth mentioning that India had also
abstained five times in the UN Security Council on
voting on resolutions denouncing Russian invasion of
Ukraine as well as on the issue of humanitarian crisis
in Ukraine. Despite strong objections from the US
and the threat of sanctions from the Biden
administration, India had also refused to make any
changes in its decision to purchase of the missile
defence system S-400 from Russia. India pursues an
independent foreign policy and its defence
acquisitions are guided by its national security
interests, the Ministry of External Affairs (MEA) said
in November last year.
Despite boosting trade ties with Russia and refusal
to condemn the invasion of Ukraine, India has
extended humanitarian help to the war torn nation.
India sent the first tranche of humanitarian assistance
to Ukraine on March 1. As per MEA sources, the
consignment comprised two tonnes of humanitarian
aid including tents, blankets, surgical gloves,
protective eye gear, water storage tanks, sleeping
mats, tarpaulin and medicines and other relief
material. Later, on March 9, India's second tranche of
humanitarian aid to Ukraine was sent to Romania by
an IAF flight. It was handed over to Romanian
authorities or onward transmission to Ukraine.
3 CONTENT ANALYSIS
It is quite clear from the above that Indian has been
walking a diplomatic tightrope over the Russian
invasion of Ukraine. On the one hand India has been
trying to balance its decades old ties with Russia,
which has stood by it in times of crisis, and on the
other it also making efforts to ensure that its relations
with the USA and the European Union does not come
under strain. While many political experts have
termed India’s stance vis-à-vis Russia-Ukraine
conflict as indicative of maturity some others have
expressed apprehensions that it may hurt the
country’s ties with the West. Interestingly India,
which has not so far condemned the Russian invasion,
has called for resolving the crisis through diplomatic
means and dialogue.
It has also expressed regrets that not enough
efforts were made to resolve the crisis diplomatically
and through negotiations. Incidentally both Russia
and Ukraine had appealed to India to take a clear
stand on the matter. Some political pundits sought to
point out, on the basis of India’s statement at the UN,
that India had, albeit in a veiled manner, criticized
Russian invasion when it asked Russia to respect the
UN Charter, international law and sovereignty and
territorial integrity of the nations. India’s third
abstention at the UN over Ukraine was followed by
calls from senior officials in Washington to India to
"take a clear position".India's strategy has raised
questions, particularly in the West, over whether the
world's largest democracy should have taken a clearer
stand.
Former Indian diplomat JN Misra says India "has
bad and worse options to pick from"."One can't tilt
both ways at the same time. India has not named any
country, which shows it won't go against Moscow.
India had to be subtle in picking a side and it has done
that," he said. There are several reasons for India's
quest to find a diplomatic balance over Ukraine. The
most important are India's time-tested defence and
diplomatic ties with Moscow. Washington had not
promised any waiver even before Russia invaded
Ukraine, and experts believe that the issue could
become a bargaining chip between India and the US.
Meanwhile, Moscow could use its own pressure
points which include strengthening ties with India's
arch-rival Pakistan if it sees a change in Delhi's
strategy. Russia has accepted India's growing ties
with the US in the past two decades but Ukraine is a
red line that it wouldn't want Delhi to cross. A senior
US diplomat said that such tipping points will only
come if the conflict in Ukraine becomes prolonged
and ends up creating a bipolar world."Let's just hope
it doesn't happen.
But if it does, India's foreign policy will be
severely tested," he says. An expert in international
politics and deputy director of Asia program at
Wilson Center Michael Kugleman says that "One of
the goals was to get India on board in condemning
Russia. As I've been saying in recent days, the Quad
is not about Russia, but it's going to become
increasingly difficult to avoid the Russia issue within
the Quad.