EAM Jaishankar pointed out what he saw as inconsistencies in Western arguments, noting that the United States had, in fact, encouraged countries like India in recent years to help stabilise the global energy market- a call that also included purchasing oil from Russia.
External Affairs Minister (EAM) Dr S Jaishankar, addressing a press briefing on August 21, pushed back against criticism of Indiaโs energy trade with Russia. He underlined that India was neither the biggest purchaser of Russian oil nor liquified natural gas (LNG), pointing instead to China and the European Union as the largest buyers in those categories. โWe are not the biggest purchasers of Russian oil, that is China. We are not the biggest purchasers of LNG, that is the European Union,โ Jaishankar clarified.
Trade surge with Russia driven by others
Jaishankar further noted that the steep rise in overall trade with Moscow after 2022 had not been driven by India. โWe are not the country which has the biggest trade surge with Russia after 2022; I think there are some countries to the South,โ he said, without naming them.
India acting on energy stability calls
The Minister also highlighted what he described as contradictions in Western arguments. He noted that the United States itself has, in past years, urged countries like India to stabilise the global energy market, which included sourcing oil from Russia.
โIncidentally, we also buy oil from the US,โ Jaishankar added, pointing out that Indiaโs imports of American crude have steadily risen.
Perplexed by the logic of criticism
Expressing surprise over repeated questioning of Indiaโs energy policy, Jaishankar said he was โperplexed at the logicโ behind the criticism. He emphasised that purchasing energy from diverse sources was in Indiaโs national interest, particularly given global market volatility.
His comments come amid ongoing Western scrutiny of Indiaโs energy ties with Russia in the wake of the Ukraine conflict. New Delhi has consistently argued that its oil purchases are guided by affordability and energy security needs, not geopolitics.
Jaishankar meets Lavrov to review bilateral ties
EAM Jaishankar met Russian Foreign Minister Sergey Lavrov in Moscow on Thursday, where the two leaders reviewed political relations, bilateral cooperation, and preparations for the annual India-Russia summit scheduled later this year. โTodayโs meeting gives us the occasion to discuss our political relations and bilateral ties. We now prepare for the annual summit at the end of the year, guided by our leaders to advance our strategic partnership,โ Jaishankar said.
The discussion also placed India-Russia cooperation within a broader international framework. โThe global context for our meeting is provided by the evolving geopolitical situation, shifting economic trade landscape, and our shared goal to maximise complementarity,โ he underlined.
Lavrov highlights multipolar world order
Welcoming Jaishankar, Russian Foreign Minister Sergey Lavrov stressed that the global landscape is increasingly shaped by multilateral groupings. โThis is a multipolar system of international relations with an increasing role for SCO, BRICS, and the G20. I hope for fruitful talks today,โ Lavrov remarked.
Trade surges, but imbalance a concern
The visit comes at a time of deepening economic cooperation. According to Russian Deputy Prime Minister Denis Manturov, Indiaโs trade turnover with Russia has surged nearly 700 per cent in the last five years, placing New Delhi among Moscowโs top three trading partners.
Jaishankar, however, flagged the rising trade imbalance. โWhile our bilateral trade in goods has grown more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024โ25, the imbalance has increased nine times, from USD 6.6 billion to USD 58.9 billion. This urgently needs to be addressed,โ he said.
Productive IRIGC-TEC session in Moscow
As part of his three-day visit, Jaishankar co-chaired the 26th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) alongside Deputy PM Manturov. โWe held detailed discussions covering trade, energy, agriculture, industry, skilling, mobility, education, and culture. In the backdrop of a complex geopolitical environment, we suggested steps to make IRIGC-TEC an even more effective platform for deepening our economic partnership,โ he noted.
During his Moscow visit, Jaishankar also paid tributes at the Tomb of the Unknown Soldier, honouring those who sacrificed their lives in the Second World War.