External Affairs Minister S Jaishankar on Saturday defended India’s energy ties with Russia, saying that New Delhi’s oil purchases were both in national and global interest.
Speaking at the Economic Times World Leaders Forum (ET WLF), he underlined that India would continue to take decisions independently, even as trade remains a 'sticking point' in discussions with the United States.
The minister was emphatic on energy security. “"It's funny to have people who work for a pro-business American administration accusing other people of doing business. If you have a problem buying oil or refined products from India, don't buy it. Nobody forces you to buy it. Europe buys, America buys, so you don't like it, don't buy it,” he said, responding to criticism of India’s purchases of Russian crude.
He noted that in 2022, when oil prices surged, there was global concern. “In 2022, there was deep nervousness on the international level due to oil prices going up. That time, it was said that if India wants to buy Russian oil, let them, because that would stabilise prices,” he added.
Also Read: India clear about 'red lines' in trade talks with US, says Jaishankar
Jaishankar said India’s purchases were intended to calm the markets as well. “We are buying oil to stabilise the oil prices. Yes, it is in our national interest but it is also in a global interest,” he said.
On India’s ties with Moscow, Jaishankar said talks during his Russia visit after the Alaska meeting focused heavily on the two sides’ annual bilateral engagement. “We’d like to increase trade with Russia,” he said, while stressing that New Delhi’s position on the Ukraine conflict is clear. “Where India stands is very clear and we want an early end to the Russia-Ukraine issue.”
Catch al live updates from ET WLF
US-India trade negotiations are on, says Jaishankar
Jaishankar said India’s relationship with major powers like the US and China has seen both cooperation and contention, but the overall trajectory remained positive. “Right now there are issues, it is pretty open, but it’s not like we never had issues before. Other parts of the relationship are strong,” he said.
Pointing to differences in US foreign policy approaches, he described President Donald Trump’s style as a departure from tradition and recalled how, during the Obama era, Washington had floated the idea of a “G2” framework with China.
On ongoing trade talks with the US, Jaishankar said negotiations are continuing but India’s positions are firm. “We have red lines in the negotiations, and we have to be clear about them. We are committed to protecting the interests of farmers and small businesses,” he said.
On India–US ties, Jaishankar said dialogue channels remain active despite differences. “We are two big countries, we need to have conversations and we will see how it goes,” he said.
Speaking at the Economic Times World Leaders Forum (ET WLF), he underlined that India would continue to take decisions independently, even as trade remains a 'sticking point' in discussions with the United States.
The minister was emphatic on energy security. “"It's funny to have people who work for a pro-business American administration accusing other people of doing business. If you have a problem buying oil or refined products from India, don't buy it. Nobody forces you to buy it. Europe buys, America buys, so you don't like it, don't buy it,” he said, responding to criticism of India’s purchases of Russian crude.
He noted that in 2022, when oil prices surged, there was global concern. “In 2022, there was deep nervousness on the international level due to oil prices going up. That time, it was said that if India wants to buy Russian oil, let them, because that would stabilise prices,” he added.
Also Read: India clear about 'red lines' in trade talks with US, says Jaishankar
Jaishankar said India’s purchases were intended to calm the markets as well. “We are buying oil to stabilise the oil prices. Yes, it is in our national interest but it is also in a global interest,” he said.
On India’s ties with Moscow, Jaishankar said talks during his Russia visit after the Alaska meeting focused heavily on the two sides’ annual bilateral engagement. “We’d like to increase trade with Russia,” he said, while stressing that New Delhi’s position on the Ukraine conflict is clear. “Where India stands is very clear and we want an early end to the Russia-Ukraine issue.”
Catch al live updates from ET WLF
US-India trade negotiations are on, says Jaishankar
Jaishankar said India’s relationship with major powers like the US and China has seen both cooperation and contention, but the overall trajectory remained positive. “Right now there are issues, it is pretty open, but it’s not like we never had issues before. Other parts of the relationship are strong,” he said.
Pointing to differences in US foreign policy approaches, he described President Donald Trump’s style as a departure from tradition and recalled how, during the Obama era, Washington had floated the idea of a “G2” framework with China.
On ongoing trade talks with the US, Jaishankar said negotiations are continuing but India’s positions are firm. “We have red lines in the negotiations, and we have to be clear about them. We are committed to protecting the interests of farmers and small businesses,” he said.
On India–US ties, Jaishankar said dialogue channels remain active despite differences. “We are two big countries, we need to have conversations and we will see how it goes,” he said.
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