India Takes a Firm Stand on US Tariffs. Indian Ambassador to Russia, Vinay Kumar, stated that India will buy cheap oil from wherever it is available. Energy security is a priority for 1.4 billion people; external pressure is unacceptable.
US Tariff: India has sent a clear message to the United States that its objective is to secure the energy security of its 1.4 billion people. India's Ambassador to Russia, Vinay Kumar, stated in a recent interview that India will buy cheap and reliable oil from wherever it is available. He described the additional tariffs imposed by the US as unfair and impractical, and said that India's policy is to put its national interest first.
India's Stance on US Tariffs
The US recently imposed an additional 25% tariff on certain products imported from India, bringing the total tariff to 50%. This move was in response to India's increasing oil imports from Russia. However, India has made it clear that it will not compromise on the needs of its citizens, deeming the tariffs unfair.
Vinay Kumar said that energy imports are entirely on a commercial basis. If India gets cheap oil from a country, it will buy from there. This decision will be based on economic logic, not political pressure.
Energy Security is India's Top Priority
India is the world's third-largest oil importer. A large part of the country's total energy needs depends on imported oil. Vinay Kumar said that the biggest responsibility of the Government of India is to ensure a stable supply of energy for 1.4 billion people. He also stated that affordable oil prices are necessary for India's economic stability.
He emphasized that India's energy policy will not change under any external pressure. India's aim is to ensure that the people of the country continue to get cheap and reliable fuel so that the impact of inflation on the economy is minimized.
New Payment System in Russia-India Trade
After the economic sanctions imposed by Western countries, India and Russia have created a system to make payments in their respective national currencies for oil trade. This arrangement has further strengthened the oil trade between India and Russia.
Vinay Kumar said that with the advent of this system, there is no hindrance in payment now and both countries are working on strengthening energy cooperation for a long time.
Support from Foreign Minister S. Jaishankar as well
India's Foreign Minister S. Jaishankar also criticized the US decision. He had said that India will not compromise on the interests of its people. Meeting energy needs is an important part of India's economic and strategic policy. Jaishankar also pointed out that many countries in the US and Europe are themselves trading with Russia. In such a situation, double standards should not be imposed on India.
Prospects for Indian Exports to Russia
India is not only buying oil from Russia, but is also trying to increase its exports to Russia. India wants to increase exports to Russia in sectors such as electronics, automobiles, textiles and construction materials.
Recently, Roman Babushkin, an official at the Russian Embassy, said that if India is facing problems in the American market, then Russia is ready to open its market for Indian goods. This could be a big opportunity for India.
