The Russia-Ukraine peace talks in Riyadh mark a significant shift in global diplomacy, with the U.S. and Russia engaging directly while excluding Ukraine and the European Union. This move has sparked controversy, with European leaders, including British Prime Minister Keir Starmer, reaffirming their support for Ukraine. Ukrainian President Volodymyr Zelensky has made it clear that he will only negotiate if the U.S. and European leaders reach a common agreement, making a resolution more complex than anticipated.
India stands to benefit economically if sanctions on Russia are lifted, given its heavy reliance on Russian crude oil. In December 2024, Russian oil accounted for 31% of India’s imports, but U.S. sanctions have complicated payments. Removing these restrictions could lower fuel costs, curb inflation, and boost economic growth.
However, challenges remain. NATO’s continued support for Ukraine and divisions within the Western bloc make an immediate ceasefire unlikely. The exclusion of Ukraine and the EU raises doubts about the legitimacy and sustainability of any agreement.
The Riyadh negotiations could either bring an end to the Russia-Ukraine war or deepen global divisions. If successful, they may stabilize energy markets and benefit economies like India. However, without a broader consensus, the conflict could persist, keeping global uncertainty high.
