India's Strategic Energy Policy: FM Sitharaman Affirms Continued Russian Oil Imports Amid U.S. Tariffs; Jaishankar to Represent India at BRICS Summit

India's Strategic Energy Policy: FM Sitharaman Affirms Continued Russian Oil Imports Amid U.S. Tariffs; Jaishankar to Represent India at BRICS Summit

Introduction

In a firm stance against external pressures, India's Finance Minister Nirmala Sitharaman has reiterated the country's commitment to purchasing Russian oil, emphasizing that energy decisions are driven by national interests. This declaration comes amid escalating trade tensions with the United States, which has imposed significant tariffs on Indian goods in response to these energy imports. Reuters

India's Energy Strategy: Prioritizing National Interests

During a recent interview, Sitharaman stated, "Whether it is Russian oil or anything else, we will take a call based on what suits our needs in terms of rates, logistics, or whatever." She highlighted that crude oil and refined fuels constitute a substantial portion of India's foreign exchange expenditure, making cost-effective sourcing a priority. www.ndtv.com

Despite facing a 50% U.S. tariff on various Indian exports, including textiles and jewelry, India maintains that its energy procurement strategies are independent of geopolitical considerations. The U.S. has criticized India's oil purchases from Russia, alleging that they indirectly support Moscow's military activities. Reuters

BRICS Summit: India's Diplomatic Engagement

In response to the evolving trade dynamics, External Affairs Minister S. Jaishankar is set to represent India at the upcoming BRICS virtual summit on September 8, 2025. Hosted by Brazilian President Luiz Inácio Lula da Si

lva, the summit aims to address the trade disruptions caused by the U.S. tariff policies and to foster a unified approach among BRICS nations. mint

India's Export Support Measures

To mitigate the impact of U.S. tariffs on exporters, the Indian government is preparing a relief package. This package is expected to include credit guarantees for loans overdue by up to 90 days, targeting small businesses and exporters in sectors such as textiles, jewelry, and seafood. Reuters

Conclusion

India's firm stance on continuing Russian oil imports underscores its commitment to energy security and economic priorities. Simultaneously, the country's active participation in BRICS discussions reflects its strategic approach to navigating complex international trade relations.

Frequently Asked Questions (FAQs)

1. Why is India continuing to import oil from Russia?

India continues to import oil from Russia due to favorable pricing and logistical advantages, which are crucial for the country's energy security and economic interests.

2. How has the U.S. responded to India's oil imports from Russia?

The U.S. has imposed a 50% tariff on various Indian goods, citing concerns that India's oil purchases from Russia indirectly support Moscow's military activities.

3. What is the BRICS summit discussing?

The BRICS summit, scheduled for September 8, 2025, will focus on addressing trade disruptions caused by U.S. tariff policies and fostering a unified approach among BRICS nations.

4. What measures is India taking to support exporters affected by U.S. tariffs?

India is preparing a relief package that includes credit guarantees for loans overdue by up to 90 days, aiming to support small businesses and exporters in sectors impacted by the tariffs.

Published on : 6th September

Published by : aswini

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