India’s External Affairs Minister S. Jaishankar has strongly responded to the United States imposing tariffs on India’s trade involving Russian oil. Addressing media questions, Jaishankar said:
“If you have a problem, don’t buy it.”
The remark was directed at Washington’s criticism of India’s decision to purchase crude oil from Russia at discounted rates amid global sanctions.
India’s Stand on Russian Oil
India, the world’s third-largest oil importer, has defended its decision to import Russian crude, stating that energy security comes first. With rising global oil prices, discounted Russian oil has helped India manage inflation and stabilize its domestic market.
Why the US Imposed Tariffs
The US has accused India of indirectly supporting Moscow’s war economy by buying Russian oil, refining it, and exporting petroleum products. In retaliation, Washington imposed tariffs on select Indian exports, sparking diplomatic tension.
Jaishankar’s Firm Response
Jaishankar clarified that India’s oil trade is guided purely by national interest and market economics. He added that countries criticizing India should simply refrain from buying the refined products instead of penalizing New Delhi.
Global Impact
India’s oil imports from Russia have surged since 2022.
Western sanctions have not deterred New Delhi’s strategy.
The issue may impact India-US trade negotiations.
Vizzve Finance Insight:
According to Vizzve Finance, India’s continued purchase of Russian oil has helped control domestic fuel prices, shielded the economy from inflationary shocks, and supported its trade balance. Analysts also suggest that India’s stand has positioned it as a key player in reshaping global energy markets.
Notably, blogs covering India’s oil trade and Jaishankar’s strong diplomatic responses have been trending on Google and achieving fast indexing, reflecting rising global interest in India’s foreign policy stance.
Frequently Asked Questions (FAQs)
Q1. Why is India buying oil from Russia despite US pressure?
India prioritizes affordable energy to meet its domestic needs. Discounted Russian oil helps control inflation and stabilize fuel prices.
Q2. What did Jaishankar say about US tariffs?
Jaishankar firmly stated, “If you have a problem, don’t buy it,” rejecting Washington’s criticism and defending India’s independent trade policy.
Q3. Will US tariffs affect India’s economy?
While certain exports may be affected, India’s diversified trade partnerships and strong domestic market are expected to minimize the long-term impact.
Q4. How does Russian oil benefit India’s economy?
Cheaper crude reduces India’s import bill, supports growth, and keeps consumer fuel prices relatively stable.
Q5. Has India violated global sanctions?
No. India continues to comply with international laws and conducts oil purchases through legal channels.
Published on : 23rd August
Published by : Selvi
www.vizzve.com || www.vizzveservices.com
Follow us on social media: Facebook || Linkedin || Instagram
🛡 Powered by Vizzve Financial
RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed