India’s Minister of External Affairs, S. Jaishankar, has strongly defended the country’s energy dealings with Russia, stating that the oil purchases are crucial for both national and international interests. In response to criticism, particularly from the United States, Jaishankar emphasized India’s right to make independent decisions on trade and energy security. He directly addressed critics by stating that if countries disapprove of India’s oil and refined product purchases, they are not obligated to engage in such transactions. Highlighting that other nations also import Russian oil, he suggested that those with objections should simply avoid purchasing. These remarks come amid growing trade tensions between India and the US, with the US imposing significant tariffs, including a penalty, on India. Jaishankar explained that India’s oil purchases played a role in stabilizing global prices in 2022, a move aimed at calming markets during a period of high volatility. He underscored that this strategy is beneficial for both India and the wider global community. During his recent visit to Russia from August 19-21, Jaishankar discussed enhancing bilateral trade relations and reiterated India’s clear position on the ongoing Russia-Ukraine conflict, advocating for a quick resolution. During the visit, he co-chaired the 26th session of the India-Russia International Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC).
Jaishankar: India’s Oil Dealings with Russia Serve Global Interests, Challenges US Criticism
