Given the trade squeeze from the West, Russia is rapidly running out of supplies. Moscow wants India to help, given the acute shortage being felt by the people. It has approached Indian retailers and agri-exporters for immediate supply of a wide range of items ranging from orange marmalade and basmati rice to rum and footwear. While the West is pushing New Delhi to negotiate with Moscow, the sanctions on Russia do not apply to food and pharmaceutical products. So there is no reason for Indian businesses not to meet Russian demand.
In any case, it is not clear what economic sanctions can achieve. While they cause some misery for ordinary people who played no part in their country’s invasion of Ukraine, top decision-makers like Russian President Vladimir Putin are unlikely to be disenfranchised, let alone the loss of power. As economist Raghuram Rajan suggested recently, it may also be time for the world to consider the extent of economic weapons. It is the Kremlin that must be held accountable for its actions, which include possible war crimes committed by soldiers, but not the Russians at large. It would be good for New Delhi to initiate a discussion on the matter in the United Nations.