Minister of External Affairs S. Jaishankar has defended India’s energy relations with Russia, asserting that the country’s oil purchases are in the national and global interest. Addressing concerns over the trade implications of these purchases, Jaishankar stated that India will continue to make independent decisions, particularly concerning its energy security. He responded to criticisms of India’s Russian oil imports by emphasizing that if nations, including the US, object to India’s trade practices, they are free to abstain. Jaishankar highlighted that others, such as Europe and the US, are also importing Russian oil, and suggested that those with reservations should simply refrain from purchasing. The statement comes amid trade tensions between India and the US, with the latter imposing tariffs, including a 25% penalty tariff, on India, partly due to the oil purchases from Russia. Jaishankar also noted that India’s purchases helped stabilize global oil prices in 2022, aiming to calm markets during price surges. He emphasized that India’s strategy benefits both the nation and the global community.
Jaishankar also mentioned that India aims to enhance trade with Russia and discussed bilateral relations during his visit to Russia. He reiterated India’s clear stance on the Russia-Ukraine conflict, emphasizing the desire for a swift resolution. The Minister visited Russia from August 19 to 21, co-chairing the 26th session of the India-Russia International Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC).