India defends Russian oil purchases ahead of US tariffs

Indian External Affairs Minister S. Jaishankar has said that no discussions were held with the US on India’s Russian oil purchases prior to the tariff announcement.

At the Economic Times World Leadership Forum, Jaishankar offered a robust defence of India’s energy relationship with Russia, asserting that oil procurement serves both national and international interests, Caliber.Az reports via Indian media. 

Addressing recent criticisms of India’s crude purchases from Russia, he said, "It is presented as an oil issue but it's still not applied to the largest importer, China. Arguments used to target India have not been applied to China." He added, "At the end of it all, we make decisions that are in national interest."

On global reactions, he noted, "If you don't like it, don't buy it. But Europe buys, America buys. If you don't like it, don't buy from us."

Jaishankar recalled the 2022 surge in oil prices, highlighting India’s role in stabilising global markets.

"In 2022, there was deep nervousness on the international level due to oil prices going up. That time, it was said that if India wants to buy Russian oil, let them, because that would stabilise prices," he said. "We are buying oil to stabilise the oil prices. Yes, it is in our national interest but it is also in a global interest."

Discussing India-US relations, Jaishankar acknowledged challenges in trade negotiations under President Donald Trump, including the recent 25% tariff on Indian goods effective August 7, and the expected 25% tariff on India’s crude oil trade with Russia from August 27.

He said, “We have red lines in the negotiations, and we have to be clear about them. We are committed to protecting the interests of farmers and small businesses."

Despite differences, Jaishankar emphassed continued dialogue between the two countries.

"We are two big countries, we need to have conversations and we will see how it goes," he said.

By Sabina Mammadli