India Says Russian Oil Purchases Safeguard Indian Consumers’ Interests
INDIA – India on Thursday said that it’s a significant importer of the Russian oil and gas, adding that the Russian oil purchases helps safeguard the interests of the Indian consumer in a volatile energy scenario.
The statement from New Delhi followed Wednesday’s claim by US President Donald Trump that Indian Prime Minister Narendra Modi had “agreed” in conversation to halt purchases of Russian oil, calling the decision “a big stop.”
“India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective,” Randhir Jaiswal, spokesman for India’s Ministry of External Affairs, said in response to Trump‘s comments.
“Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy,” he added.
Trump has imposed 50% tariffs on Indian imports, part for purchases of Russian oil amid the ongoing Ukrainian war.
Jaiswal said New Delhi is “broad-basing” energy sourcing and “diversifying as appropriate to meet market conditions.”
On the US, he added, “we have for many years sought to expand our energy procurement” and this has “steadily progressed in the last decade.”
“The current (Trump) administration has shown interest in deepening energy cooperation with India. Discussions are ongoing,” said Jaiswal.
In New Delhi, asked if India would continue to buy Russian oil, Russian Ambassador Denis Alipov to India told reporters: “This is a question to (the) Indian government. (The) Indian government is acting, having in mind the national interests of this country in the first place, and our cooperation in energy is very much in tune with those interests.”
Trump said Wednesday that Modi “is not buying his oil from Russia.”
“It started. You know, you can’t do it immediately. It’s a little bit of a process, but the process is going to be over with soon,” Trump told reporters at the White House.
Trump has sought to curtail the purchase of Russian oil on international markets, saying that doing so would accelerate an end to the Ukraine war.
The US president said he would now focus on getting China “to do the same thing” as India, and stop buying Moscow crude.
