India’s External Affairs Minister S Jaishankar has firmly rejected US President Donald Trump’s claim that India is the biggest buyer of Russian oil. He made the remarks in Moscow on Thursday (August 21) during a press conference with Russian Foreign Minister Sergey Lavrov.
The response came after Trump imposed 50 per cent tariffs on Indian goods, linking it to New Delhi’s oil trade with Russia amid the Ukraine war.
“China, not India, buys the most”
S. Jaishankar said India was surprised by Trump’s argument. He pointed out that China, not India, buys the most Russian oil. The European Union, he added, buys the most Russian LNG.
“We are not the biggest purchasers of Russian oil; that is China. We are not the biggest purchasers of LNG, that is the European Union. We are not the country that has the biggest trade surge with Russia after 2022, I think there are some countries to the South,” Jaishankar said.
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US Itself Sells Oil to India
The minister stressed that India has increased its oil imports from the United States. He said Washington itself had encouraged New Delhi to stabilise the global energy market by diversifying oil purchases, including from Russia.
“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. So honestly, we are very perplexed at the logic of the argument that you had referred to,” he added.
Talks with Russia cover wider ground
Beyond oil and trade, Jaishankar and Lavrov also discussed several global and regional issues. They spoke on Ukraine, Europe, Iran, West Asia, Afghanistan, and the Indian sub-continent. Cooperation within forums like the UN, G20, SCO and BRICS also featured in the talks.
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Push for Balanced Trade with Russia
Jaishankar emphasized that trade relations need to be more balanced. He emphasized that in order to rectify the existing imbalance, India needs to boost its exports.
“This requires swiftly addressing non-tariff barriers and regulatory impediments, enhancing India’s exports to Russia in sectors like agriculture, pharma, and textiles will certainly help correct the imbalance…,” he said.
Bigger Picture
S Jaishankar’s remarks are significant at a time when Trump has revived his aggressive tariff policy. By pointing towards China and the EU as bigger buyers of Russian energy, India aims to deflect US pressure while defending its energy security.
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The minister’s remarks also suggest that, despite the continued tensions over Ukraine around the world, India will maintain a balance between its relations with Washington and Moscow.
