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regular-article-logo Tuesday, 26 November 2024

External affairs minister defends Russian oil purchase

The new package of sanctions is designed in such a way that consideration has been given to the welfare of the population: Jaishankar

Our Special Correspondent New Delhi Published 04.06.22, 01:19 AM
Jaishankar.

Jaishankar. File photo

External affairs minister S. Jaishankar on Friday hit out at sections of the international community which are criticising India for buying Russian oil and accusing New Delhi of funding Russia’s war on Ukraine in the process.

“Is buying Russian gas not funding the war,’’ he shot back while responding to questions at an interactive session at the Bratislava Conclave in the Slovanian capital; referring to the fact that Europe is still buying Russian gas despite its conflict with Ukraine.

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At the conclave, Jaishankar once again called out the hypocrisy of the West on oil purchases when asked about India’s increase in oil imports from Russia since the war broke out. The increase is estimated to be nine times this month but Jaishankar argued that the original base was very small.

“This whole narrative that it has gone up nine times… It’s gone up nine times from a very low base because at that time the markets were very open…. If the US and Europe are so considerate, why don’t they allow Iranian oil to come into the market, why don’t they allow Venezuelan oil to come into the market? They have squeezed every other source of oil we have and then say you must not go into the market and get the best deal for your people. I don’t think that’s a very fair approach.’’

As for India buying Russian oil — which has been offered at discounted rates — the minister said: “Today Europe is buying oil and gas… The new package of sanctions is designed in such a way that consideration has been given to the welfare of the population. Pipelines have certain carve outs. Time lines have been given… People need to understand that if you can be considerate of yourself surely you can be considerate of other people. If Europe says we have to manage it in a way in which its impact on my economy is not traumatic, that freedom or choice should exist for other people.’’

Further, he maintained that there is no political messaging in India’s oil purchases. “We don’t send people out there and say go buy Russian oil. We send people out there and say go buy oil. You buy the best oil you can in the market.’’

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