India’s Oil Purchases Amid U.S. Criticism

According to Vinay Kumar, Indian envoy to Russia, India asserted that it will continue to purchase oil from sources which provided the best deal on energy security for over 1.4 billion people. His remarks came after the U.S., under the Donald Trump administration, doubled tariffs on Indian goods to 50%, including a 25% additional duty linked to Russian crude imports, and accused India of funding Moscow’s war in Ukraine — a claim India strongly rejected. In its oil trade with Russia, Kumar claimed, India is trading with Russia for commercial market and national interest and price stability as was the case with other jurisdictions while the US and Europe also traded with Russia. External Affairs Minister S. Jaishankar criticized U.S. concerns as hypocritical, stating that if they disapprove of Indian oil or refined products, they are not compelled to buy them.

Key Statement: Indian envoy to Russia, Vinay Kumar, said India will continue to buy oil from those sources that provided the best deal with energy security for over 1.4 billion people.

Context: The U.S. condemned India’s purchase of discounted Russian crude, claiming the purchase funds the war in Ukraine. The claim was strongly rejected by India.

Tariff Issue: The U.S. (Donald Trump administration) doubled tariffs on Indian goods to 50%, which included 25% extra duty for purchases from Russian oil.

India’s Stand: India  oil trade with Russia was commercial and market-driven, focused on national interest and price stability. India pointed out, others (including the U.S.) and Europe’s trade with Russia.

Jaishankar’s Response: Criticized U.S. stance, saying, “If you don’t like it, don’t buy it; nobody forces you.”

We will be happy to hear your thoughts

Leave a reply

Gkseries.com
Logo
Register New Account