Indian Oil Companies Reject US Criticism of Russian Oil Purchases. Refineries state oil purchases are legal, comply with set limits, and do not violate any rules.
Russia Oil: India's leading oil companies have opposed the allegations raised by the United States regarding the purchase of Russian oil. Indian refiners have clarified that buying crude oil from Russia is completely legal and does not violate any international regulations. According to industry sources, the set limit and price cap have been adhered to, and no Indian company has purchased oil beyond this limit.
Why Buying Oil from Russia is Legal
According to a Business Today report, India's purchase of crude oil from Russia is fully legal under the guidelines set by the US and the European Union. Third countries are permitted to buy oil at or below the price cap. Industry experts say that the American criticism is hypocritical in this context, as the US had previously supported India's purchase.
Global Price Cap on Russian Oil
There are no global restrictions on Russian crude oil. The purpose of the price cap is only to prevent record-keeping, shipping, insurance, and finance above the limit. No Indian refinery has violated this limit. Only Nayara Energy was included in the European Union's Russia sanctions list because it is owned by the Russian company Rosneft.
America's Opposition and Hypocrisy
The US is now opposing India's purchase. US Treasury Secretary Scott Besent has accused India of 'profiteering.' Additionally, Peter Navarro, a key figure in Trump's trade policies, has accused India of acting as a 'laundry machine for the Kremlin.' He says that India's purchases are helping Russia raise funds for the war in Ukraine.
America Had Previously Supported It
According to industry sources, the US had previously supported India in buying oil from Russia. In 2024, then-US Ambassador Eric Garcetti said that Washington wanted a country to buy Russian oil at a set price so that global oil prices would not skyrocket. Now, the same America is coming out against this purchase.
Foreign Minister Jaishankar Gave a Sharp Reply
External Affairs Minister S. Jaishankar publicly responded to all the allegations, saying that if American or European buyers have any problems with India's refining policy, they can refrain from buying it. He clarified that India is not violating any international rules and its purchases are completely legal and transparent.
