In response to India’s purchase of Russian oil, the US levied an additional 25% tariff on the country. However, following the trade agreement, this was withdrawn. The question now is whether India would keep buying Russian crude oil. S. Jaishankar, the minister of external affairs, has provided a clear response to this question.
India is dedicated to “strategic autonomy,” he declared, and would make its own foreign and energy policy decisions. The fact that US sources stated that New Delhi has pledged to halt the acquisition of more Russian oil under a new trade framework makes the Foreign Minister’s statement much more noteworthy.
At the Munich Security Summit, S. Jaishankar, the foreign minister, responded in this way. The government has been under fire from the opposition for supposedly “surrendering” to the US after the trade agreement. Washington, meanwhile, has openly connected the deal to sanctions on the import of Russian oil.
In response to inquiries during his meeting with German Foreign Minister Johann Wadephul at the Munich Security Summit, Jaishankar stated that India’s commitment to the world lies at the heart of its strategy for strategic autonomy. “Strategic autonomy is something we are totally dedicated to. He stated, “It is a crucial aspect of our history and progress… It is a topic that is also being politicized.”
Procurement decisions are essentially commercial, he added. Just as in Europe, S. Jaishankar stated, “Oil corporations in India look at availability, costs, and risks and make decisions that they believe are in their best interest.”
Vikram Misri, the foreign secretary, had previously stated that national interest determines India’s energy procurement. As Washington tightens sanctions on Moscow for the war in Ukraine, US Secretary of State Marco Rubio stated that the US has secured a “promise” from India to cease purchasing “further Russian oil.”
Rubio added that the US has placed additional restrictions on Russia’s oil industry. “In our discussions with India, we have secured their promise to cease purchasing more oil from Russia,” Rubio said.
