The China-Russia-India Energy and Trade Triangle: Reshaping Global Markets in a Multipolar Era

The global economic landscape is undergoing a seismic shift as emerging powers forge strategic alliances to counter U.S.-led dominance. At the heart of this transformation lies the China-Russia-India (CRI) energy and trade triangle, a coalition leveraging its collective economic weight to redefine global trade dynamics. This article examines the strategic and financial implications of this multipolar alliance, drawing on recent data to assess its potential to reshape markets and investment flows.

The CRI Trade Surge: A Strategic Reorientation

The CRI triangle has witnessed unprecedented trade growth, driven by geopolitical realignments and energy dependencies. According to a report by The Asia Today, Russia’s exports to India surged from $8.7 billion in 2023 to $64.2 billion by 2025, while India’s exports to Russia rose to $4.9 billion during the same period [1]. This shift reflects Russia’s deliberate pivot eastward, with China’s exports to Russia also increasing 1.7 times to $116 billion in 2024 [1].

India and Russia have set an ambitious target of $100 billion in bilateral trade by 2030, underpinned by energy cooperation. India’s oil imports from Russia now account for 40% of its total needs, a stark contrast to pre-2022 levels [1]. Meanwhile, China’s Belt and Road Initiative (BRI) has injected $66.2 billion in construction contracts and $57.1 billion in investments in 2025, with a focus on energy and mining [4]. These figures underscore a deliberate strategy to diversify supply chains and reduce reliance on Western markets.

BRICS Expansion: A Geopolitical Power Play

The CRI alliance is further amplified by the expansion of the BRICS bloc, which now includes Indonesia, Nigeria, and aspirants like Saudi Arabia and Türkiye. As noted in a Carnegie Endowment analysis, BRICS now represents 46% of global GDP and 55% of the world’s population [2]. This growth has intensified calls for de-dollarization, with member states promoting trade in local currencies to circumvent U.S. sanctions and reduce exposure to Western financial systems [3].

The 2025 Shanghai Cooperation Organization (SCO) summit in Tianjin reaffirmed this trajectory, with leaders emphasizing multilateralism and regional cooperation. China’s President Xi Jinping highlighted the “Shanghai Spirit” of mutual trust and equality, signaling a coordinated approach to counter Western economic hegemony [3].

Strategic Implications for Investors

The CRI triangle’s rise presents both opportunities and risks for global investors. On one hand, the deepening integration of energy and trade networks offers lucrative prospects in sectors like infrastructure, renewables, and technology. For instance, India’s investments in Russia’s oil and gas sector have grown from $6.5 billion in 2011 to $16 billion by 2023, while Russian investments in India’s energy and infrastructure have reached $20 billion [3].

On the other hand, the CRI’s alignment with BRICS mechanisms—such as the New Development Bank and intra-BRICS payment systems—reflects an incremental rather than disruptive challenge to U.S.-led institutions. As a Tandfonline study notes, BRICS initiatives function as parallel structures to the IMF and World Bank, aiming to reform global governance from within rather than replace it [2]. This hybrid model suggests a long-term, adaptive strategy rather than an immediate rupture with existing systems.