New Delhi | Moscow is fully aware of New Delhi's concerns about the massive trade deficit, and Russia is working with India to fix "the problem", Kremlin spokesman Dmitry Peskov said on Tuesday.

Addressing a video-streamed press conference for Indian journalists, Peskov spoke on a range of issues, including the US peace plan in Ukraine, American sanctions on Russian crude oil and the supply of Russian defence platforms and technology to India.

Peskov called for a new system of global trade where the payment system (Dollar-denominated trade) is not used as a "political tool".

While this statement was directed against the US, Peskov praised the latest mediation efforts by America to end the Ukraine war "as very effective".

"We hope it will succeed. We are ready to contribute to it," he said hours before US negotiator Steve Witcoff is scheduled to meet Putin.

Peskov held the news conference as a curtain raiser ahead of President Vladimir Putin's visit to New Delhi on December 4 and 5 for the annual India-Russia summit with Prime Minister Narendra Modi.