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HomeIndiaIn India’s interest to keep importing Russian oil: EAM Jaishankar | India...

In India’s interest to keep importing Russian oil: EAM Jaishankar | India News

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NEW DELHI: Overseas minister S Jaishankar Tuesday strongly backed India’s growing oil imports from Russia saying vitality ties with Moscow have labored to India’s benefit and that it is in India’s curiosity to maintain the imports going.
Requested concerning the Western strain on India to restrict commerce ties with Russia, after a gathering together with his Russian counterpart Sergey Lavrov, Jaishankar mentioned India’s “elementary obligation” is to make sure that the Indian shopper has the very best entry, on most advantageous phrases, to worldwide markets.
Whereas reiterating PM Narendra Modi’s level that this is not the period of struggle, the minister additionally asserted that India will again any initiative on the Ukraine situation to de-risk the worldwide economic system and stabilise the worldwide order. Russia, which accounted for 0.2% of India’s crude imports earlier than the army battle in Ukraine, emerged as India’s primary provider final month with its share going as much as 22 per cent.
“There may be stress on the vitality markets. Because the world’s third largest shopper of oil and fuel – a shopper the place the extent of earnings will not be very excessive – it’s our elementary obligation to make sure that the Indian shopper has the very best entry, on probably the most advantageous phrases, to worldwide markets. In that respect, now we have fairly truthfully seen that the India-Russia relationship has labored to our benefit. If it really works to my benefit, I want to hold that going,” mentioned Jaishankar after his assembly with Lavrov in Moscow, as he underlined the importance of India’s “time-tested” relationship with Russia.
Jaishankar’s remarks additionally got here forward of US treasury secretary Janet Yellen‘s go to to India later this week throughout which she’s prone to search India’s help for a value cap on Russian oil.




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