NEW DELHI - Russian President Vladimir Putin has refuted the United States' accusations on India's oil purchases from Russia, according to private media network "India Today."

In an interview with the news channel released on Thursday, shortly before he arrived in New Delhi for a two-day state visit to India, Putin said, "The US itself still buys nuclear fuel from us for its own nuclear power plants. That is also fuel."

He further added, "If the US has the right to buy our fuel, why shouldn't India have the same privilege? This question deserves a thorough examination, and we stand ready to discuss it, including with President Trump."

India's oil imports from Russia hit a three-year low this month amid the US administration's punitive tariffs on India, supported by the argument that such purchases of cheap Russian oil helped finance Moscow in the Russia-Ukraine conflict.

Acknowledging the decline in India-Russia overall trade due to low oil purchases by India, Putin said, "There is a certain decline in overall trade turnover during the first nine months of this year. This is just a minor adjustment. Overall, our trade turnover stands almost at the same level as before."

Putin arrived in New Delhi on Thursday evening to hold the 23rd India-Russia Summit. Prime Minister Narendra Modi welcomed the Russian leader at the airport, following which both travelled in the same car to the official residence of the Indian prime minister.