The Russian invasion of Ukraine is distinct from the numerous continuing battles in various parts of the world, such as in Arab nations, Africa, or between India and China. The conflict has resulted in severe economic sanctions on Russia by the US and its allies. There is no doubt that the conflict and the economic sanctions are going to have short- and long-term consequences for Russia as well as several other countries around the world including India. The conflict has immediate implications on global trade, financial markets, and technology transfer. Russia is a major producer and exporter of oil and natural gas to several countries including India. India has also invested in the oil and natural gas sector in Russian Far East (RFE). However, the recent conflict and sanctions have changed the investment and trade scenario for Russia as well as investor countries like India.
In this context, this paper would like to explore the history of the Russia-Ukraine conflict and the scenario of trade and investment in RFE and its impacts on India’s energy security. The paper would also analyse Russia’s development strategy in the RFE and its implication for countries like India which has made huge investments. Finally, the paper would examine the Russia-India strategic partnership and future cooperation in the context of the present conflict.