India Not Violating Sanctions By Importing Russian Oil: US After Modi-Biden Meet
Mumbai: After PM Narendra Modi meets with US President Joe Biden, the US said India’s oil imports from Russia don’t violate their sanctions. Also Read: India’s Monthly Russian Oil Purchase Less Than What Europe Buys In 1 Afternoon: EAM
Delhi’s crude oil purchases from Moscow since it attacked Ukraine had led to pointed statements from the US and the UK.
White House press secretary Jen Psaki said late Monday, however, also said Biden had told Modi that it is not in India’s interest to increase energy imports from Russia. Also Read: India Will Make Its Own Decisions: US After PM Modi-Biden Meet On War In Ukraine
“Energy imports are not banned and they do not violate our sanctions. We certainly believe that every country is going to take a step in their interest… (on India’s plan to import Russian oil) I Will let PM Modi and Indians speak on that. At present it is only 1-2 per cent… they export 10 per cent from the USA. This is not a violation of any restrictions…”
Psaki, however, also said that Biden told Modi that the US was ready to help India diversify its means of importing oil. “Imports from the US are already significant, much larger than imports from Russia.”
Last week also the White House had said that India’s oil imports from Russia are only 1-2 per cent of its total. “…just to clarify, India’s imports of Russian energy represent only 1 to 2 per cent of total energy imports…” Psaki said she urged India to work with the US to further reduce that figure. Following sanctions by the US, UK and EU on Russian entities in the wake of the war in Ukraine, India bought at least 13 million barrels of Russian crude at a discounted rate. This was in addition to an earlier purchase of 5 million barrels – a day’s supply for fuel-hungry India.
Estimated purchases from Russia so far last year are over 16 million barrels, but still, a relatively small amount considering India’s total purchases. Oil is a major concern for India – which imports 85 per cent of its needs – and rising fuel prices have triggered protests.
When asked about India’s position on the conflict in Ukraine and Western sanctions, both External Affairs Minister S Jaishankar and Finance Minister Nirmala Sitharaman pointed to these facts.
On Tuesday’s 2+2 meeting Jaishankar, who has repeatedly defended India’s decision to buy fuel cheaply, also said: “If you’re looking at energy purchases from Russia, I’d suggest your attention be on Europe… our purchases for the month would be less than what Europe does in an afternoon.”
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