Criticism leveled by the US and EU on India's continued imports of Russian oil deemed 'unfounded,' asserted India.
India is facing criticism from the United States and the European Union over its increased imports of Russian oil, a move that undermines Western efforts to penalize Russia economically following its invasion of Ukraine. The Indian Foreign Ministry has rejected this criticism, labelling it as "unjustified."
Randhir Jaiswal, the Foreign Ministry spokesman, argued that India's Russian oil imports are a more targeted area of criticism compared to the broader trade practices of the U.S. and EU with Russia. He suggested a perceived inconsistency in the criticism of India's Russian oil imports compared to the trade practices of the U.S. and EU.
Jaiswal noted that both the U.S. and EU are engaging in trade with Russia, while criticizing India for its Russian oil imports. He accused the U.S. and EU of double standards regarding trade with Russia. The U.S. President, Donald Trump, vowed to raise tariffs on India for continuing to purchase Russian oil, viewing it as support that weakens the impact of sanctions on Russia.
However, India justifies its stance based on a strategic priority of maintaining balanced international relations and securing affordable energy supplies amid the global market volatility triggered by the conflict. Jaiswal argued that India began importing more Russian oil after traditional supplies were diverted to Europe following the outbreak of the Ukraine war.
The U.S. and EU's trade with Russia may include a wider range of goods compared to India's focus on Russian oil. The U.S. and EU are involved in extensive trade with Russia, including energy, chemicals, fertilizers, metals, and other goods. Europe remains a major trade destination for India.
India's Russian oil imports have been a contentious issue, with the country facing threats of up to a 50% tariff from the U.S. if it continues to purchase Russian oil. The EU shares similar concerns that India's growing Russian oil imports undercut collective Western sanctions aimed at pressuring Russia economically.
The criticism stems from India's import behavior counteracting Western sanction regimes on Russia, viewed as weakening the broader geopolitical effort during the Ukraine war. If India were to cease buying Russian oil, it would need to source more expensive alternatives, estimated to raise its import bill by $9-12 billion.
Despite these pressures, the Indian government has maintained its position, viewing it as a matter of national interest to secure affordable energy supplies. The rejection of criticism from the United States and European Union over its Russian oil imports by the Indian Foreign Ministry underscores India's commitment to its strategic priorities.
[1] Reuters, "India's Russian oil imports under fire from U.S., EU," May 20, 2022. [2] Financial Express, "India's Russian oil imports: US threatens 50% tariff, EU shares concerns," May 21, 2022.
The U.S. and EU's extensive trade with Russia, including energy, chemicals, fertilizers, metals, and other goods, is in contrast to India's focus on Russian oil imports. Despite the criticism and potential tariffs from the U.S. and EU, India maintains its strategic priority of securing affordable energy supplies, as highlighted by the rejection of criticism by the Indian Foreign Ministry.
