US EditionIndia Rejects Criticism over Russian Oil Trade but Flow From Moscow Plummets
India defends its Russian oil imports as essential for national and global energy stability while rejecting US tariffs and accusations of profiteering, with purchases rising to 33% of imports.
- On Saturday, External Affairs Minister S. Jaishankar defended India's Russian oil purchases at the Economic Times World Leaders Forum, saying they support national and global stability and warned of trade 'red lines' protecting farmers and small producers.
- On August 6, the Trump administration doubled tariffs on Indian imports to 50% after President Donald Trump abandoned earlier U.S. encouragement and began publicly criticizing India's Russian oil purchases; another 25% tariff is due Wednesday.
- Data show Western majors' profits surged, with Exxon Mobil's rising from $36 billion to $59 billion, while Indian refiners IOCL, BPCL, HPCL faced weaker GRMs and Scott Bessent alleged $16 billion excess profits by Reliance Industries.
- Responding to mediation assertions, Jaishankar reiterated India's refusal of third-party mediation, dismissing U.S. credit for the India-Pakistan ceasefire and highlighting a national consensus over 50 years against it.
- Protecting farmers, Modi and Jaishankar have maintained hard lines as United States trade negotiators press India to open markets, while opposition parties including Congress and AAP call Jaishankar's defense a 'diplomatic disaster'.
23 Articles
23 Articles
India rejects criticism over Russian oil trade but flow from Moscow plummets
India has pushed back against mounting criticism of its continued energy ties with Moscow, insisting that no country is obliged to buy refined Russian oil products exported from Indian refineries.
India Will Buy Oil From Wherever It Gets "Best Deal": Indian Envoy To Russia
Indian companies will continue buying oil from wherever they get the "best deal", India's envoy to Russia Vinay Kumar has said, asserting that New Delhi will continue taking measures which protect its "national interest".
India will buy oil from wherever it gets ‘best deal’: Indian envoy slams US tariffs as ‘unfair, unjustified’
He emphasised that India's energy policy aims to secure reliable supplies for its citizens and that its cooperation with Russia and other countries has contributed to global oil market stability.
Nikki Haley urges India to take Trump's view on Russian oil seriously
New York: India should take President Donald Trump’s concerns over its procurement of Russian crude oil seriously and work with the White House to find a solution to the issue, Republican leader Nikki Haley has said. The Trump administration has been severely critical of India for its procurement of discounted crude oil from Russia. Interestingly, Washington has not been criticising China, the largest importer of Russian crude oil. Defending its…
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