Russia's secret tech deals with India uncovered by Financial Times
Russia secretly acquired sensitive goods in India, writes the "Financial Times." Moscow also explored whether it was possible to construct special facilities that would secure the components needed for waging war.
In October 2022, Russia developed a confidential plan worth $1 billion, which would allow the Kremlin to secure channels for transferring critical electronics. The operation was intended to be kept secret from the West, emphasizes the "FT," citing Russian state correspondence.
Russia planned to use large reserves of rupees, which Moscow received from New Delhi for oil supplies. These are key dual-use technologies, capable of being used for both civilian and military purposes, such as drones and missiles. Such technologies are subject to controls by Western officials.
The Russian Consortium for Foreign Economic Activity and International Intergovernmental Cooperation in Industry was supposed to be involved in purchasing critical components from India. This organization is closely linked to the security service.
"Moscow even envisaged pumping investment into Russo-Indian electronics development and production facilities, according to the leaked files," reveals the "FT." These documents confirm that India has moved closer to Russia despite Prime Minister Narendra Modi having signed a series of Indo-American cooperation agreements on, among other things, advanced jet engines and artificial intelligence.
To what extent has Russia implemented the plan? That remains unknown. However, detailed data regarding trade flows suggest that relations with India have deepened regarding specific categories of goods identified in Russian correspondence.
Security service and rupees
The project was supposed to be overseen by Vadim Poida, president of the aforementioned consortium, among others. The plan involved developing a five-stage process allowing Moscow to spend rupees in exchange for delivering components from India. The plan included "representatives of the relevant Indian state and private businesses."
An anonymous Indian businessman told the "FT" that some of the rupees were to go to India to ensure the production process of dual-use components. "It could be low-value electronics items like the ones found in washing machines or refrigerators," he explained. Such products could already make their way to Russia.
The "FT" reminds that India is buying Russian oil on a large scale, and trade exchanges between the countries reached a record level of $66 billion in the fiscal year 2023/24. That's five times more than before the outbreak of the full-scale war in Ukraine.
