The recent meeting of the Indo-Russian Business Co-operation Council and the Trade and Investment Forum in New Delhi was significant, in that it took place after the recent summit-level talks between the two countries. This symbolises the fact that both countries assign considerable value to increasing bilateral trade and economic co-operation.

Vladimir Putin's visit to India on January 25-26, 2007 provided fresh impetus to the strategic partnership between the two countries. The visit reinforced the interests of both states in maintaining their traditionally close and friendly relationship and in strengthening a multipolar world order.

Russia's energy potential is undeniably playing a significant role in its geopolitical and economic revival. Viewing energy as the major source for its growth, Russia is modernizing and diversifying its energy sector. It has been playing a significant role in supplying energy to many countries of the world. It has performed its role consistently and reliably during the past many years and is expected to do so in the foreseeable future as well.

The Shanghai Cooperation Organization (SCO) is an intergovernmental international organization founded in Shanghai on June 15, 2001 by six countries: Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Its member states cover an area of over 30 million square km or about three fifths of Eurasia, with a population of 1.455 billion, about a quarter of the world's total.

With its economy in a resurgent mode, Russia seems set to regain its traditional influence and power. But in tune with the popular Russian saying that "the bear is still licking its wounds," Russia has to overcome a number of obstacles to sustain its economic growth. Russia's economic resurgence has been made possible by a combination of factors: strong leadership and firm handling of the transition to a free market economy, integration into the world economy, the growth in oil and gas production and increasing oil revenues due to rising prices.

Russia's concern over Iran's nuclear programme is increasing with every passing day. Iranian authorities are showing un-willingness to accept Russia's proposal to enrich uranium in Russian territory. Russia is trying to resolve an international crisis over Iran's suspected nuclear weapons programme, though its position on Iran has rhetorically moved closer to the European "Troika" (France, Germany, UK). Russia agreed to Iran's referral to the UN Security Council on the condition that the council would take action only after the March 6 IAEA meeting.

The dispute over the price hike for Russian gas deliveries to Ukraine was settled on January 4, 2006 , when Russian energy giant Gazprom and Ukraine 's state oil and gas company Naftogaz reached an agreement on the supply of Russian natural gas to Ukraine through a joint-venture company Rosukrenergo. It focused international attention on Russia 's current policy shift and the mechanisms of its implementation.