Moscow : Russia on Wednesday said India is free to source crude from any country it chooses and that New Delhi’s effort to diversify oil suppliers is neither new nor directed at Moscow. The statement came after US President Donald Trump claimed that Prime Minister Narendra Modi had agreed to stop buying Russian oil and instead purchase crude from the United States.
We, along with all other international energy experts, are well aware that Russia is not the only supplier of oil and petroleum products to India. India has always purchased these products from other countries. Therefore, we see nothing new here,” Peskov said while addressing a presser. Trade Minister Piyush Goyal recently pointed out that India is broadening its energy mix to adapt to shifting global conditions and safeguard energy security for its citizens.
He had made a similar point a day earlier, stressing that no such signal had come from New Delhi. Backing continued cooperation, Russian Foreign Ministry spokesperson Maria Zakharova said the hydrocarbons trade serves both countries. India’s purchase of Russian hydrocarbons is beneficial for both sides and helps maintain stability in the global energy market. We are ready to continue close cooperation with our Indian partners, she said at a briefing.
Igor Yushkov of the National Energy Security Fund said US shale exports are largely light grades, while Russia supplies heavier, sulphur-rich Urals crude used by Indian refineries. “India would need to blend US oil with other grades, which raises costs. A simple substitution is not possible,” he said. Yushkov added that Russia typically ships between 1.5 and 2 million barrels per day to India, volumes the US cannot easily match. “It looks like Trump is trying to project the talks as a win entirely on US terms,” he said.
Trump had last year imposed steep tariffs on India over New Delhi’s purchases of Russian energy, which the White House maintains is financing Vladimir Putin’s war against Ukraine. Recently, Trump announced a trade deal, cutting tariffs on Indian imports from 50 per cent to 18 per cent, effective immediately.
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