MOSCOW— External Affairs Minister S. Jaishankar pushed back on criticism of India’s energy trade on Thursday, stressing that New Delhi’s oil imports from the United States have been climbing steadily even as Washington threatens new tariffs over purchases of Russian crude.
Speaking at a press briefing in Moscow, Jaishankar said India is being unfairly singled out. “We are not the biggest purchaser of Russian oil – that is China. We are not the biggest purchaser of LNG – that is the European Union. We are not the country that has seen the sharpest trade surge with Russia after 2022; there are others to the south,” he said.
He added that Washington itself had long encouraged India to play a stabilizing role in the global energy market, which included continuing to buy oil from multiple sources. “Incidentally, we also buy oil from the U.S., and that amount has increased,” Jaishankar noted.
Official data shows India’s oil and gas imports from the United States rose 51 percent between January and June this year. Liquefied natural gas imports nearly doubled, climbing to $2.46 billion in fiscal year 2024–25 from $1.41 billion the year before. Indian Oil Corporation, the country’s largest refiner, has placed multiple orders for U.S. crude in August for October delivery, including about two million barrels.
At the same time, India’s August purchases of Russian crude totaled around two million barrels per day, reflecting contracts placed earlier in the summer. Analysts note that the increased Russian inflows largely replaced shipments from Iraq and Saudi Arabia amid regional instability.
Jaishankar said India’s energy cooperation with Russia is only part of a broader relationship. “It’s not only about oil. We are moving forward in nuclear energy, greater market access, fertilizers, and labor mobility – and I am very satisfied with that,” he said.
Meanwhile, Russia’s Deputy Ambassador to India, Roman Babushkin, assured that Moscow’s crude exports to India would remain steady despite Western sanctions. He noted that bilateral trade has expanded nearly sevenfold in recent years, with Russia supplying around 250 million tonnes of oil annually at an average five percent discount, depending on negotiations.
The remarks come as the Trump administration prepares to impose an additional 25 percent tariff on Indian imports beginning August 27, citing New Delhi’s continued purchases of Russian energy. (Source: IANS)
