New Delhi: Foreign Minister S. Jaishankar on Friday said New Delhi is only working to get the best deal for its citizens in the midst of the turbulent fluctuations in the global energy market, with the purchase of Russian oil in India in Ukraine. Rejected the Western proposal to fund the war.
While he participates in an exchange session at the annual Bratislava Forum hosted by the think tank GLOBSEC in the Slovak capital, European countries have carved out sanctions imposed on Russia to allow access to Russian gas. Said to include.
“I don’t want to sound controversial, but please tell me if buying Russian gas isn’t funding the war. [in Ukraine]Only Indian money and oil coming to India will fund it. [the war] But it’s not the gas that comes to Europe that fund it [it]He ignored the moderator’s suggestion that India’s oil purchases are funding Russia’s campaign in Ukraine.
CNN recently quoted Refinitiv data as reporting that Russia’s crude oil flow to India reached 3.36 million tons in May, about nine times the monthly average of 382,500 tons in 2021. India has raised 4.8 million tonnes of Russian discounted oil since Ukraine. The war began in February.
The Indian side claims that there is no intergovernmental deal on energy with Russia, which is a “marginal supplier” of crude oil and not the top 10 source.
Jaishankar said the story of a nine-fold increase in purchases should take into account the fact that “from a very low base in an era when the market is more open.”
“If the countries of Europe, Western Europe and the United States are very concerned, why don’t they allow Iranians in Iran? [and] Will Venezuelan oil enter the market? They say you shouldn’t enter the market and make the best deal for people after narrowing down all the other oil sources we have. A fair approach. “
Jaishankar said European countries continue to buy Russian oil and gas, and the latest sanctions package includes pipeline and timeline carve-outs to reduce energy imports. It’s not traumatic, and its freedom and choice should exist for others, “he said.
India is only buying “the best oil on the market,” he added, “it shouldn’t be accompanied by a political message.”
Asked about India’s wheat export ban, he said this was done to prevent speculation by international traders at centers such as Singapore and Dubai.
Low-income countries such as Bangladesh, Sri Lanka, Nepal, Yemen and Sudan were “squeezed”, “a kind of wheat runaway” by international traders, Jaishankar said.
India typically exports 2 to 3 million tonnes of wheat annually, reaching 7 million tonnes last year and New Delhi’s wheat before this year’s heat wave had a “very terrible” impact on crops. We acted to prevent diversion to high-income countries. He said, as it happened with the Covid-19 vaccine.