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The first deal pertains to S-400 Triumf air defence missile systems that India would be purchasing from Russian Federation for $5 billion (Rs 3,691 crore at current price).

Russian President Vladimir Putin is scheduled to arrive to India on Thursday for a two-day visit during which Moscow is expected to ink weapons deal worth billions of dollars.

"Next on the itinerary is the signing of bilateral documents, and there are many of them in the portfolio", he said. Putin will stay in India on October 4 and October 5.

"The key feature of this visit will be the signing of the agreement to deliver S-400 air defence systems", Putin's top foreign policy aide Yury Ushakov was quoted in media reports as saying in Moscow. One is associated with attempts to create competitive advantages for its own products using political pressure (it is known that the United States offered its Patriot systems to India instead of S-400).

The other major contract that will be signed on Friday includes a $2.2-billion deal to procure four new warships for the Navy. Putin arrived in India on Thursday for a two-day visit during which India is expected to sign a $5 billion deal to buy Russian S-400 air defense systems despite a new US law ordering sanctions on any country trading with Russia's defense and intelligence sectors.

The US is now number two, though, supplying the Indian military with advanced hardware like Apache attack helicopters and negotiating the sale of armed drones.

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Moreover, the Pentagon has warned India that the purchase would violate US sanctions against Russia's military that went into effect this year.

"The Administration has indicated that a focus area for the implementation of CAATSA Section 231 is new or qualitative upgrades in capability - including the S-400 air and missile defense system", the spokesperson said.

The last India-Russia bilateral summit was held in Russia on June 1, 2017. Moreover, a militarily potent India is central to the USA strategy in the wider Indo-Pacific.

A number of crucial energy deals are slated to be signed by the two countries during the bilateral summit.

There is a risk that oil prices could hit $100 a barrel soon because a lot of uncertainties now exist in a very nervous and emotional market, Russia's Energy Minister Alexander Novak told Russian radio station Business FM in an interview on Thursday. The U.S. around this time also imposed new sanctions.

On the strategic front, Russian Federation helped India become a full member of the Shanghai Cooperation Organisation this year and has backed New Delhi's long-held demand for a permanent UN Security Council seat.

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