Indian Envoy Says: Oil Purchases Will Focus On Best Deals, Not Politics

India will keep purchasing oil from the most cost-effective sources, according to Vinay Kumar, India's envoy to Russia. He emphasised that New Delhi prioritises energy security for its 1.4 billion citizens and will continue actions that safeguard its national interests. His comments were made in an interview with Russia's TASS news agency, as reported by PTI.

The US has criticised India's acquisition of discounted Russian crude oil, a stance India has firmly opposed. Kumar highlighted that trade is conducted on a "commercial basis," stating, "Indian companies will continue buying from wherever they get the best deal." He reiterated India's focus on energy security and how cooperation with Russia and other nations contributes to global oil market stability.

Energy Security and Market Dynamics

Kumar pointed out that trade between India and Russia is guided by mutual interests and market dynamics. He noted that this trade aims to ensure energy security for India's vast population. Despite US allegations that India's Russian crude purchases fund Moscow's war in Ukraine, India has denied these claims.

External Affairs Minister S Jaishankar addressed US criticism regarding India's crude oil dealings. He remarked on the irony of a pro-business American administration criticising others for conducting business. "If you have a problem buying oil or refined products from India, don't buy it," he stated, highlighting that both Europe and America engage in similar transactions.

US Tariffs and International Trade

The backdrop to these discussions includes the US administration under Donald Trump doubling tariffs on Indian goods to 50%, with an additional 25% duty related to India's Russian crude purchases. Kumar labelled Washington's decision as "unfair, unreasonable and unjustified," affirming that India will protect its national interests.

Kumar also mentioned that other countries, including the US and European nations, continue trading with Russia. This underscores the global nature of energy procurement driven by national interest and market factors.

India remains steadfast in its approach to energy procurement, ensuring it aligns with national interests while navigating international trade dynamics. The country's strategy involves securing energy resources from diverse sources based on economic viability and market conditions.