External Affairs Minister S Jaishankar has mounted a robust defence of India’s energy procurement strategy, making clear that the decision to purchase Russian crude oil from 2022 onwards was both a matter of national interest and a stabilising contribution to the global economy.

He revealed that New Delhi’s calibrated choices were not unilateral but aligned with explicit requests from the United States, which sought to prevent a catastrophic surge in international oil prices at the time.

Speaking at the Kultaranta Talks in Finland during a session on ‘Emerging Powers and the New Geopolitical Competition’, Jaishankar explained that Washington had specifically asked India to buy Russian oil to steady the market.

He emphasised that India’s actions were pragmatic, responsible, and globally beneficial, ensuring that energy supplies remained stable during a period of severe disruption.

He outlined the market dynamics that shaped India’s decisions. Following Western sanctions on Moscow, European nations rapidly abandoned Russian energy assets and turned aggressively to the Middle East, traditionally India’s primary supplier.

This sudden pivot created intense competition and threatened supplies for developing economies. Jaishankar noted that circumstances pushed India towards Russian oil because much of the available supply was Russian, while Europeans were absorbing Middle Eastern volumes.

When challenged by a journalist who accused India of being overly sympathetic to Russia, Jaishankar responded firmly that India’s energy purchases were dictated by cost and availability. He reiterated that Europe’s scramble for Middle Eastern oil left Russia as the most viable option for India, and that New Delhi’s choices were shaped by necessity rather than ideology.

EAM Jaishankar also highlighted Europe’s moral ambiguity, pointing out that no European country has ever been attacked with Indian weapons, whereas European arms have repeatedly been used against India.

He stressed that India has never endangered Europe, contrasting this with Europe’s long history of supplying weapons that have been deployed against Indian interests. This, he argued, underscored the hypocrisy of European criticism of India’s energy trade.

He confirmed that Russia remains a reliable partner for India’s crude imports, while the United States is India’s top supplier of natural gas, reflecting New Delhi’s diversified energy basket. He added that the global market is currently “de-risking” from the Gulf region, further validating India’s diversified approach.

Jaishankar dismantled the selective moralising surrounding India’s sovereign energy decisions, stressing that Western nations themselves had shifted policies inconsistently. He pointed out that the United States initially requested India to buy Russian oil to protect the global market, later imposed tariffs on Indian products, and eventually rescinded them.

He argued that such hypocrisy was inappropriate and that India’s decisions were guided solely by national interest, citizen welfare, and energy security.

By significantly increasing imports of discounted Russian crude as Western markets withdrew, India not only shielded its consumers from inflationary shocks but also relieved pressure on global oil supplies. 

This positioned India as a stabilising force in international trade, demonstrating its ability to balance domestic priorities with global responsibilities.

ANI