India and Russia have a mutually beneficial relationship going back decades, and since the full-scale invasion of Ukraine, India’s strategic importance for Russia has grown considerably. This hasn’t gone unnoticed by the Trump administration, which has slapped additional tariffs on India for buying Russian oil. To maintain its position as an emerging global powerhouse, India must navigate not only an unpredictable U.S. foreign policy, but also a more assertive China that is exploiting Russia’s asymmetrical dependence, and a Europe that is unhappy about New Delhi’s ties to Moscow.