India and Ukraine agree to restore trade ties to pre-war levels

India-Ukraine trade ties: The foreign ministers of India and Ukraine announced on Friday their mutual agreement to revive trade and cooperation to pre-war levels following Russia's invasion. This reconciliation comes as Kyiv plans to garner support for its peace plan with a historical ally of Moscow.

Ukrainian Foreign Minister Dmytro Kuleba embarked on the first official visit to India by a senior Kyiv official since Russia's full-scale invasion in February 2022. This visit precedes a potential international summit in the forthcoming months to advance Ukraine's blueprint for peace.

Despite India's longstanding economic and defence ties with Moscow, and its historical reluctance to denounce Russia's actions in Ukraine, New Delhi refrained from criticism and advocated for a resolution to the conflict through dialogue and diplomacy. Meanwhile, it notably increased its purchases of Russian oil to unprecedented levels.

Following discussions with his Minister of Foreign Affairs Subrahmanyam Jaishankar, Kuleba expressed optimism, stating, "We... agreed to restore the level of cooperation between our countries that existed prior to the full-scale war launched by Russia, as well as identify new promising projects to take our relations to the next level."

Jaishankar echoed this sentiment, highlighting the immediate goal of reinstating trade to previous levels.

Ukraine aspires to convene a summit, excluding Russian participation, to advance its peace formula, which entails, among other provisions, the withdrawal of Russian troops from its territory. However, Russia has dismissed this initiative as unfeasible.

In pre-talk interviews, Kuleba underscored Ukraine's stance on India's engagement with Russia, urging New Delhi to consider Kyiv's perspective. He emphasised that while Ukraine is not opposed to cooperation between India and Russia, it implores India to stand in solidarity, cautioning against financing Russia's military endeavours.

Highlighting potential benefits for India, Kuleba underlines opportunities for expanded trade and technology cooperation with Ukraine, particularly in heavy machinery imports. Moreover, he extended invitations to Indian companies to participate in post-war reconstruction efforts.

(With Reuters inputs)