The Kremlin Is Selling Off Siberia To India
5- 17.06.2026, 9:34
- 4,076
A deal involving metal deposits is in the works.
Russia plans to attract Indian investment for the extraction of minerals in Siberia that are not yet being mined.
This was reported by Reuters.
The Kremlin has offered India access to one of the world’s largest rare-earth metal deposits—Tomtor in Yakutia. The Indian state-owned mining company IREL is conducting confidential negotiations with the Russian oil giant Rosneft. The parties are already discussing the transfer of ore samples from the Arctic deposit.
The material will first be processed in Russia and then shipped to India. There, experts will conduct an in-depth analysis of the mineral composition, and only then will New Delhi decide whether to invest billions in the joint project.
China will be unhappy
Overall, as the agency notes, India may be interested in the project, as it seeks to reduce its dependence on Beijing. China currently dominates this industry and controls most of the world’s production and refining.
For Russia, which is surrounded on all sides by sanctions, this move is also beneficial. Moscow is trying to find new ways to develop resource projects. It is deepening ties with key trading partners in Asia.
Control over Tomtor passed to Rosneft last year. The Russian government has stepped up efforts to extract critically important raw materials.
Why Are Rare Earth Elements Important?
Rare earth metals are the heart of modern industry. Without them, it is impossible to create powerful permanent magnets.
These elements are essential for:
the production of electric vehicles;
renewable energy technologies;
modern defense systems and aviation.
India possesses vast reserves of its own—the third-largest in the world. However, the country still lacks the technology to produce magnets, which represents a major gap in its economy.
IREL is not limited to Russia alone. The company is actively exploring projects in other regions: Argentina, Australia, and Malawi. The Indian side is also discussing partnerships with Japanese and South Korean firms.
Russia, for its part, has more to offer than just metals. The Indian state-owned companies SAIL and NMDC are considering the possibility of acquiring Russian coal assets.
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