External Affairs Minister S Jaishankar reiterated India's stance on procuring Russian oil, emphasizing the longstanding stable and amicable relations between Moscow and New Delhi.
During the 60th Munich Security Conference held from February 16-18, Jaishankar addressed concerns about India's reliance on Russian oil in an interview with German Daily Handelsblatt. He underscored that historically, Russia has never posed any threat to India's interests, fostering a strong and consistent relationship between the two nations.
Amid the conflict between Russia and Ukraine in 2022, India emerged as Moscow's primary crude oil importer, accounting for approximately 36 percent of its oil imports. Jaishankar defended India's decision, asserting that the country acted pragmatically in securing its energy needs amidst shifting global dynamics.
In response to questions about the Indo-Russian relationship potentially straining India's ties with Europe, Jaishankar stressed the importance of recognizing natural differences in international relations. He emphasized that India's perspective on Russia differs from Europe's and urged for mutual understanding and respect.
Regarding energy procurement, Jaishankar highlighted the pragmatic approach adopted by India in diversifying its oil sources. With Europe redirecting its energy purchases to the Middle East during the Ukraine conflict, India navigated the situation by ensuring stability in its energy market and averting a surge in global oil prices.
Jaishankar reiterated the significant role played by India in stabilizing the energy market and preventing adverse effects on global oil prices, particularly for lower-income countries. He emphasized the necessity of maintaining a balanced approach to energy procurement to mitigate potential economic and political repercussions.
Addressing concerns about India's arms procurement from Russia, Jaishankar noted the evolving dynamics in India's defense acquisitions, with diversification evident in purchases from the USA, Russia, France, and Israel.
Echoing his sentiments expressed at the Munich panel discussion, Jaishankar underscored India's willingness to contribute to conflict resolution efforts. While India stands ready to assist when approached, Jaishankar emphasized the importance of not taking unilateral initiatives in mediating the Russia-Ukraine conflict.
Jaishankar reiterated India's commitment to ending the conflict and emphasized the need for global cooperation to address various challenges, including the Covid pandemic, geopolitical tensions, and climate crises, underscoring the importance of evolving the international order to meet contemporary challenges.
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