Ever since the news on Indian Oil Corporation buying 3 million barrels of Russian crude oil at discounted prices broke out, the US has been lobbying against India making oil deals with Russia. There were also remarks from the UK, urging India to toe the line of the West.
India has responded to the criticism sharply, calling the West to stop politicizing its legitimate energy deals. Also, energy-wise self-sufficient countries and those still trading oil with Russia should not advise India to stop buying oil from Russia.
MEA spokesperson Arindam Bagchi said that India’s energy needs are met mainly through imports, so the country keeps exploring competitive sources in the global market. Also, supply from Russia accounts for just 1% of its crude imports.
With the current global situation and rising crude prices, India is at its right to look for competitive sellers in the worldwide market. Responding to questions on Rupee-Ruble mechanisms for payments, Bagchi said such a system was present in the past. However, he is not aware of its feasibility now.