India's national security adviser was in Moscow on Wednesday, media in New Delhi reported, after Washington threatened to hike US tariffs because of India's purchases of Russian oil.
India is a major buyer of Russian oil, a key source of revenue for Moscow's military offensive on Ukraine.
US President Donald Trump said Tuesday he was considering "substantially" hiking tariffs on Indian imports over the country's purchases of Russian oil.
New Delhi did not give official confirmation but The Hindu newspaper reported that security chief Ajit Doval had travelled to Moscow overnight Tuesday, while NTDV broadcaster also said he was in Russia.
Doval's reported visit to Moscow coincides with that of US envoy Steve Witkoff, who is also set to meet with the Russian leadership.
Trump has given Russia until Friday to halt its offensive in Ukraine or face new penalties.
India's foreign ministry on Monday said US pressure to stop it buying Russian oil was "unjustified and unreasonable" and that it would protect its interests.
New Delhi argued it "began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict".
Shilan Shah of Capital Economics said that India could "in principle" find other suppliers "relatively easily with little economic impact".
But politically it would be a challenge.
"Domestically, it would not play well to be seen caving to Trump's demands", Shah said in a note, adding that "policymakers would be reluctant to upend generally cordial (and long-standing) relations with Russia."
In addition, Ukraine on Tuesday said it had found Indian-made components in Russian drones fired on the country.
Ukrainian President Volodymyr Zelensky's chief of staff Andriy Yermak, in a post on Telegram, said that "we must deprive the Russians of the ability to obtain components from other countries and stop the killing of Ukrainians".
Analysts say Trump's anger with Indian purchases of Russian military equipment and oil overlooks the fact that New Delhi and Moscow have had historically close ties since the Cold War.
Data from the Stockholm International Peace Research Institute shows Russia supplied 76 percent of India's military imports between 2009 and 2013.
And while this percentage has dropped significantly in recent years, India still depends on Russia for key parts.
India holds rates
India's central bank maintained its key interest rate at 5.50 percent on Wednesday, as US President Donald Trump ramped up threats to raise tariffs on New Delhi because of Russian oil purchases.
The Reserve Bank of India (RBI) kept steady the repurchase rate, the level at which it lends to commercial banks, after a unanimous vote by a six-member panel.
A majority of analysts had forecast a pause following a surprise 50-basis-point reduction in June.
Bank governor Sanjay Malhotra said global trade challenges remained but that the "Indian economy holds bright prospects in the changing world order".
"We have taken decisive and forward looking measures to support growth," he said in a statement.
The RBI cut rates for the first time in nearly five years in February and followed up with two other reductions in April and June.
The Indian government has forecast above-average monsoon rains, which observers say should help growth, as higher agricultural output will aid the rural economy and keep vegetable prices stable.
But Trump's announcement Tuesday to "substantially" hike tariffs on Indian imports because of New Delhi's purchases of Russian oil has added pressure on India.
Before that threat was made, the existing 10 percent US tariff on Indian products was already due to rise to 25 percent on Thursday.
Malhotra acknowledged that "the uncertainties of tariffs are still evolving" even though "growth is robust".
Trump's pressure on India comes after he signalled fresh sanctions on Russia if it did not make progress by Friday towards a peace deal with Ukraine.
India, the world's most populous country, is not an export powerhouse, but the United States is its largest trading partner.