Oil purchases serve both national and global interests by stabilising prices: EAM Jaishankar

New Delhi, Aug 23 (IANS) As the US prepares to slap secondary 25 per cent tariffs on India in couple of days, External Affairs Minister (EAM) Dr S. Jaishankar on Saturday defended India's energy ties with Russia, saying that that oil purchases serve both national and global interests by stabilising prices.

Addressing an event hosted by The Economic Times in the national capital, the EAM underlined that India would continue to take decisions independently on energy.

“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,” EAM Jaishankar told the gathering.

“Nobody forces you to buy it. Europe buys, America buys, so you don't like it, don't buy it,” said the EAM.

According to the Union Minister, 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,” the EAM said, adding that India is “buying oil to stabilise the oil prices. Yes, it is in our national interest but it is also in a global interest”.

Earlier, during a press briefing in Moscow, EAM Jaishankar said that India's oil purchase from the US has been consistently increasing and India is not the biggest purchaser of Russian oil.

"That is China. We are not the biggest purchasers of LNG; that is the European Union. We are not the country which has the biggest trade surge with Russia after 2022; I think there are some countries to the South," the EAM had told the media.

He further stated that "We are a country where the Americans have said for the last few years that we should do everything to stabilise the world energy market, including buying oil from Russia".

"Incidentally, we also buy oil from the US, and that amount has increased," EAM Jaishankar told the media.

The EAM said it is not only about oil, but India and Russia are "going forward" in looking at nuclear energy, greater market access, fertilisers, and labour mobility - something which he is "really very satisfied with".

--IANS

na/