New Delhi: India has reaffirmed that its energy import decisions are guided solely by national interests, after US President Donald Trump claimed that Prime Minister Narendra Modi “assured” him New Delhi would stop buying oil from Russia.
In a statement Thursday, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said that India has steadily expanded its energy cooperation with the United States over the past decade, noting that “the current administration has shown interest in deepening energy cooperation with India” and “discussions are ongoing”.
“India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective. Ensuring stable energy prices and secure supplies have been the twin goals of our energy policy. This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions,” the statement read.
On Wednesday night, Trump told reporters at an Oval Office briefing that PM Modi had assured him India would stop purchasing oil from Russia. “So I was not happy that India was buying oil, and he (Modi) assured me today that they will not be buying oil from Russia,” Trump said. “That’s a big step. Now we’re going to get China to do the same thing.”
Trump has repeatedly targeted India over its Russian crude imports, imposing tariffs on Indian exports to the US in a bid to pressure New Delhi to reduce purchases from Moscow as part of Washington’s broader effort to limit Russia’s energy revenues and push it towards a peace deal in Ukraine.
India and China are currently the two largest buyers of Russian seaborne crude, capitalising on discounted rates since Western sanctions were imposed on Moscow following its invasion of Ukraine in February 2022.
According to energy trade data, Russia remained India’s top oil supplier in September, exporting around 1.62 million barrels per day—roughly one-third of India’s total crude imports.
India’s ‘most reliable energy partner’
Russian Ambassador to India Denis Alipov Thursday defended Moscow’s partnership, saying Russia remains India’s “most reliable energy partner”, and a “cost-effective option”. Speaking at an event marking the 25th anniversary of the Russia-India Strategic Partnership, Alipov highlighted ongoing cooperation in civil nuclear energy, including small modular reactors (SMRs).
“One-third of India’s crude oil purchases come from Russia. We are the cost-effective option, and we are India’s most reliable energy partner,” he said.
Russian President Vladimir Putin is also scheduled to visit India in December for the annual India-Russia summit, following Prime Minister Modi’s visit to Moscow in July 2024.
Last month, India and Russia announced they had agreed on terms of reference for a Free Trade Agreement (FTA) between New Delhi and the Russian-led Eurasian Economic Union (EAEU), a move expected to further deepen economic ties between the two strategic partners.
(Edited by Shashank Kishan)
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