India will continue to import crude from Russia, says Jaishankar
Image credit: Deccan Herald
Following extensive discussions with his Russian colleague Sergey Lavrov in Moscow, India’s External Affairs Minister S. Jaishankar made it clear on Tuesday that India will continue to acquire crude oil from Russia despite mounting concern from Western nations.
Jaishankar and Lavrov held a joint press conference where they both stated that it is New Delhi’s “basic commitment” to make sure that Indian consumers have the greatest possible access to the “most beneficial” conditions on global crude markets.
Data from energy cargo tracker Vortexa shows that Russia surpassed Saudi Arabia and Iraq to become India’s top oil supplier in October.
“Quite honestly, we have observed that the India-Russia connection has benefited us in that regard.” “Therefore, if it benefits me, I’d prefer to continue it,” he remarked.
Since it began trading at a discount as the West avoided it in retaliation for Moscow’s invasion of Ukraine, India’s thirst for Russian oil has increased.
The minister of external affairs confirmed India’s and Russia’s intention to increase commercial cooperation.
I believe what says the most is the fact that I am here today with a delegation to examine our collaboration, see how we can advance it, and establish a long-term sustainable base.
The minister of external affairs highlighted that in recent years, India and Russia have concentrated on methods to boost bilateral commerce and add more elements of “long-term stability” and development.
According to Jaishankar, a collaboration between the two parties in the fields of energy and fertiliser has been advancing, and recent successes have served as a springboard for future endeavours.
“We talked about ways to broaden and change up our cooperation, going beyond what we typically do.” “Our top objective has been to encourage interregional collaboration, especially with the Russian Far East,” he added.
Additionally, he continued, “We talked about improving connection, notably through the Chennai-Vladivostok Eastern Maritime Corridor and the International North-South Transport Corridor.”
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