Indian Foreign Minister Defends Oil Trade with Russia
(MENAFN) Indian Foreign Minister S. Jaishankar has pushed back against ongoing criticism from the United States, asserting that no one is “forced” to purchase petroleum products from India.
His remarks came during a forum hosted by the Economic Times in New Delhi, where he firmly dismissed claims that India's crude oil imports from Russia are indirectly supporting the Ukraine conflict.
Addressing these accusations, he said, “If you have a problem buying oil or refined products from India, don't buy it,” emphasizing that the decision to engage in such trade lies entirely with the buyers. “Nobody forces you to buy it. Europe buys, America buys, so you don't like it, don't buy it.”
The controversy escalated last week when Peter Navarro, former trade adviser to U.S. President Donald Trump, became the latest official to condemn India’s ongoing purchases of Russian crude oil.
He criticized the trade by describing it as “a refining profit-sharing scheme,” and controversially labeled the arrangement “a laundromat for the Kremlin.” Prior to this, U.S. Treasury Secretary Scott Bessent had also accused New Delhi of “profiteering” through its dealings with Moscow by purchasing discounted crude and re-exporting refined products.
In response, Jaishankar highlighted that India's oil imports from Russia are in the interest of not just the country itself but also the global market, as they contribute to maintaining balanced oil prices.
He defended the purchases as a pragmatic move in a volatile energy market, rather than a geopolitical statement.
Tensions were further heightened earlier this month when former President Trump declared an additional 25% tariff on Indian imports.
This decision followed India’s continued engagement with Russian oil and compounded a previous 25% tariff already in place due to the breakdown of trade negotiations between New Delhi and Washington.
These new duties are set to be implemented on August 27.
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