India's Ambassador to Russia, Vinay Kumar, has stated that Indian oil companies will purchase crude oil from wherever they get the best deal. He clarified that India's priority is the energy security of its 1.4 billion people and that India will not compromise its national interests in this matter.
Global Oil Market: In an interview with the Russian state news agency TASS, India's Ambassador Vinay Kumar clearly stated that Indian companies will continue to buy oil from wherever they get the Best Deal. He stated that India's main goal is to ensure the Energy Security of its 1.4 billion citizens. This statement comes at a time when the United States is criticizing India for buying oil from Russia at discounted rates and additional tariffs have also been imposed on India.
Energy Security is India's Top Priority
In an interview with the Russian state news agency TASS, Vinay Kumar said that India makes decisions based on its national energy needs. He said that trade is entirely on a commercial basis and Indian companies will continue to buy from wherever they get the best deal.
He said that India's aim is not only to increase imports, but also to ensure a continuous and affordable availability of energy for its citizens.
India and Russia's Cooperation Stabilized the Oil Market
Vinay Kumar stated that India's cooperation with Russia has helped stabilize the global oil market. According to him, trade between India and Russia is based on mutual interests and market conditions. He also said that the main objective of this cooperation is to ensure India's energy security, which is a basic need of 1.4 billion people.
India's Clear Response to US Displeasure
This statement comes at a time when the United States is constantly criticizing India's oil purchases from Russia. The US says that India is weakening Western sanctions by buying crude oil from Russia at discounted rates.
However, India has repeatedly made it clear that it will only make decisions based on its national interests. The Indian government says that it has the right to import from any country to meet its energy needs and external pressure cannot be accepted in this.
India-US Trade Tension
At the end of July, the US announced a 25 percent tariff on India. US President Donald Trump had said that India is continuously buying crude oil from Russia, so a separate penalty will be imposed on it.
After this, Trump announced an additional 25 percent tariff, bringing the total tariff on India to 50 percent. This move further increased trade tensions between the two countries.
Prime Minister Modi's Statement
Prime Minister Narendra Modi, reacting to the US tariff, had said that India will never compromise on the interests of its farmers and fishermen. He clarified that the interests of farmers and people associated with the dairy sector are the highest priority for India.
Modi said that no matter how much global pressure there is, India will continue to protect its citizens and their interests.
Buying Oil from Russia is a Profitable Deal for India
Indian oil companies believe that they will buy oil from wherever they get a better deal in terms of cost. Energy sector experts say that given India's growing consumption, it is necessary to import from various sources.
Companies also believe that buying from Russia is an economical deal for India, as crude oil is being made available at discounted rates. This is the reason why Indian companies have increased imports from Russia.
India-Russia Energy Partnership is Old and Strong
Cooperation between India and Russia in the energy sector has been going on for many decades. In recent years, this cooperation has become even ber. India is increasing its dependence on Russia not only in the import of crude oil, but also in natural gas and coal.
Ambassador Vinay Kumar said that this partnership between the two countries is based on mutual trust and shared interests. This cooperation is likely to deepen further in the coming times.
