New Delhi, Jul 22 (PTI) India accords “highest priority” to ensure energy security for its people and European nations need to strike a balance and have a “clear-eyed” perception in dealing with matters such as energy-related sanctions, Foreign Secretary Vikram Misri said on Tuesday.
His remarks came days after the European Union unveiled new punitive measures targeting the Russian energy sector that included restrictions on the Vadinar refinery in Gujarat.
At a media briefing, Misri noted the security concerns behind the new set of sanctions announced by the European Union (EU) against Russia but said the rest of the world too is dealing with “existential” issues.
It is important not to have “double standards” on energy-related issues, he said.
Misri made the remarks in response to a question at a media briefing on Prime Minister Narendra Modi’s four-day visit to the UK and the Maldives.
“We have been very clear that in so far as energy security is concerned, it is the highest priority of the government of India to provide energy security for the people of India and we will do what we need to do with regard to that,” he said.
The foreign secretary was asked whether issues relating to energy security in view of the fresh Western sanctions targeting the Russian energy sector will figure in Modi’s talks with his British counterpart Keir Starmer.
India has significantly increased its energy procurement from Russia in the last few years notwithstanding increasing western sanctions against Moscow over its invasion of Ukraine.
Currently Russian crude oil accounts for nearly 35 per cent of overall supplies, followed by Iraq and Saudi Arabia.
“On energy related issues itself also, as we have said previously, it is important not to have double standards and to have a clear-eyed perception of what the global situation is in so far as the broader energy market is concerned and where the providers of energy goods are located and where they are going to come from and who needs energy at what point in time,” Misri said.
“I think these matters are not appreciated sufficiently.” The 18th package of sanctions unveiled by the 27-nation EU last week included a set of measures largely aimed at curbing the revenues of Russia’s oil and energy sector such as an import ban on refined petroleum products made from Russian crude oil and coming from any third country.
The measures also included reduction of the oil price cap from USD 60 to about USD 48 a barrel and the designation of the Vadinar Refinery in which Russian energy firm Rosneft has a major stake.
Hours after the EU announced the new measures, India said there should be “no double standards”, especially when it comes to energy trade.
Misri said India understands that Europe is confronting a major security issue and that the rest of the world is also dealing with issues that are “existential”.
“We do understand that there is an important and serious security issue that is confronting Europe, but the rest of the world is also there and is also dealing with issues that are existential for the rest of the world,” he said.
“And I think it is important to keep balance and perspective when talking about these issues,” he added. PTI MPB ZMN
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