NEW DELHI/MOSCOW - Amid the ongoing US pressure on India-Russia oil trade, Indian Prime Minister Narendra Modi on Friday held a phone conversation with Russian President Vladimir Putin.

Modi posted a statement on social media, saying that he was looking forward to hosting the Russian president later this year.

"I thanked him for sharing the latest developments on Ukraine. We also reviewed the progress in our bilateral agenda, and reaffirmed our commitment to further deepen the India-Russia Special and Privileged Strategic Partnership," Modi said. 

Putin shared the key outcomes of his meeting with US president's special envoy Steve Witkoff with Modi, the Kremlin said Friday.

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Putin and Modi also exchanged views on key bilateral issues, including cooperation in trade, economy and investment, the Kremlin said in a statement.

Modi confirmed India's consistent position in favor of settling the situation surrounding Ukraine via political and diplomatic means, it added.

Putin and Witkoff on Wednesday held talks on Ukraine and the prospects for bilateral ties, according to Russian presidential aide Yury Ushakov. Putin said Thursday he hopes for a presidential summit with US President Donald Trump as early as next week.

On Wednesday, US President Donald Trump signed an executive order imposing an additional 25-percent tariff on imports from India with the excuse of India's purchases of Russian oil.

India's Ministry of External Affairs responded to Trump's threat with a statement saying that "the targeting of India is unjustified and unreasonable" and that India's oil imports are meant to "ensure predictable and affordable energy costs" for Indian consumers.