Moscow: 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”.
In an interview with Russia’s state-run TASS news agency published Sunday, Kumar said that New Delhi’s priority is ensuring energy security of the country’s 1.4 billion people.
His remarks come amid US criticism of India’s purchase of discounted Russian crude, a criticism which India has strongly rejected.
Stressing that trade takes place on a “commercial basis”, Kumar said, “Indian companies will continue buying from wherever they get the best deal. So that’s what the current situation is.”
“...We have clearly stated that our objective is energy security of 1.4 billion people of India and India’s cooperation with Russia, as of several other countries, has helped to bring about stability in the oil market, global oil market,” the report quoted him as saying.
His comments come in the backdrop of the Donald Trump administration doubling tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duty for India’s purchase of Russian crude oil.
The US has alleged that India’s purchases of Russian crude oil are funding Moscow’s war in Ukraine, a charge strongly rejected by India.
Calling Washington’s decision “unfair, unreasonable and unjustified”, Kumar said that the Indian government “will continue taking measures which will protect the national interest of the country”. India has been maintaining that its energy procurement, including from Russia, is driven by national interest and market dynamics.
Kumar said that trade between India and Russia is based on mutual interests and market factors, and added that it is done with the “overall objective of ensuring the energy security of 1.4 billion people of India”.
“There are other countries including the US itself and in Europe trading with Russia,” he said.