Indian Govt Defends itself for buying Russian oil at discounted price Amid war in Ukraine
New Delhi – Indian Government has strongly defended itself for its decision of buying discounted Russian oil. India recently accepted Russia’s offer to purchase 3 million barrels of crude at a discounted price, a move that has been criticized by the US and its allies.
India’s statement comes after a reporter asked the White House press secretary Jen Psaki, if the American president planned to reach out to India to try and get the decision reversed, to which the White House responded that it understood the economic reasoning for the different stance by different countries.
Jen Psaki said:-
“We have not Well, we made a decision about banning the Russian import of oil. Every country has not made that decision. And we recognize that and they have different economic reasoning as to why different countries do including some in Europe. We have been in touch of course with Indian leaders at a range of levels not through the president. If that happens, we will of course provide that readout and information to all of you.”
In the aftermath of the Russian invasion of Ukraine, the US had announced that it would ban the import of Russian oil, liquefied natural gas, and coal. The US also emphasize that it would move away from dependency on Russian energy.
As a result, Russia began offering its oil to many countries including India at discounted prices. That step is said to also help Moscow’s economic prospects. Russian energy continues to be produced by various countries across the world, including many in Europe.
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India imports 85% of its crude oil requirement. India imports 5 million barrels of oil a day, mostly from West Asia. 23% of oil comes from Iraq and 18% from Saudi Arabia, 11% from the United Arab Emirates. Russia contributes less than 1% to Indian crude oil demand. There is no government-to-government pact for any import plan.
Image Source:- WION
