India stands firm on Russian oil despite US pressure, says FM

Indian Foreign Minister Subrahmanyam Jaishankar dismissed reports that New Delhi could halt purchases of Russian oil under pressure from the United States.

Speaking at the Munich Security Conference, Jaishankar said India would continue to make its own decisions, even if they do not always suit other powers, Caliber.Az reports.

“India as in Europe as probably in other parts of the world look at availability, look at cost, look at risks and take the decisions that they feel is in their best interest,” he noted.

After Russia’s full-scale invasion of Ukraine in 2022, Western sanctions and a G7 price cap pushed Moscow to offer its crude at steep discounts, transforming Russia into one of India’s largest oil suppliers, with Russian crude sometimes making up around a third of New Delhi’s imports because it was cheaper than Middle Eastern supplies.

The United States and its allies have repeatedly criticized India’s Russian oil purchases, arguing that continuing those imports helps sustain Moscow’s revenues during the war and undermines the impact of sanctions aimed at choking Russian energy earnings.

United States officials, including members of Congress and the administration, have proposed tariffs or other trade measures on countries buying Russian crude as a means to pressure buyers like India to cut imports, a strategy that has complicated diplomatic ties between Washington and New Delhi.

By Jeyhun Aghazada