Dr. Jaishankar meets President Putin
New Delhi, Aug 21: India is neither the biggest purchaser of Russian oil nor it has the biggest trade surge with Moscow after 2022, External Affairs Minister S Jaishankar said on Thursday, in what appears to be the first clear response by a top government functionary following the US slapping an additional 25 per cent tariff on Indian goods for buying Russian oil.
Jaishankar made the remarks in response to a question at a joint media briefing with Russian Foreign Minister Sergey Lavrov.
“We are not the biggest purchaser of Russian oil. That is China. We are not the biggest purchaser of Russian LNG. I’m not sure, but I think that is the European Union,” he said.
“We are not the country which has the biggest trade surge with Russia after 2022. I think there are some countries to the south,” he added.
The external affairs minister, who is on a three-day visit to Moscow, also suggested that the US was supportive of India procuring crude oil from Russia as it stabilised the energy market.
“We are a country where actually the Americans said for the last few years that we should do everything to stabilise the world energy markets, including buying oil from Russia,” Jaishankar said.
“Incidentally, we also buy oil from America, and that amount has been increasing. So, quite honestly, we are very perplexed at the logic of the argument that you had referred to,” he said.
Jaishankar was asked about White House trade advisor Peter Navarro’s criticism of India for purchasing Russian crude oil.
In his answer, the external affairs minister said he would not respond to the official’s remarks but will comment on the subject.
The relations between New Delhi and Washington are on a downturn after US President Donald Trump doubled tariffs on Indian goods to a whopping 50 per cent including a 25 per cent additional duties for India’s purchase of Russian crude oil.
In an opinion piece in the Financial Times, Navarro accused India of “profiteering” by purchasing Russian discounted oil and exporting the processed petroleum products to Europe, Africa and Asia.
Last week, US Treasury Secretary Scott Bessent warned that the Trump administration may increase secondary tariffs on India if it continues to procure Russian crude oil.
Though the US imposed an additional 25 per cent tariff on India for its energy ties with Russia, it has not initiated similar actions against China, the largest buyer of Russian crude oil.
Defending its purchase of Russian crude oil, India has been maintaining that its energy procurement is driven by national interest and market dynamics.
India turned to purchasing Russian oil sold at a discount after Western countries-imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February, 2022.
Consequently, from a mere 1.7 per cent share in total oil imports in 2019-20, Russia’s share increased to 35.1 per cent in 2024-25, and it is now the biggest oil supplier to India.
Later in the day the EAM met Russian President Vladimir Putin and is understood to have discussed ways to further expand India-Russia ties.
The meeting came hours after Jaishankar held wide-ranging talks with Russian Foreign Minister Sergey Lavrov that largely focused on expanding the trade ties between the two countries.
“We believe that relations between India and Russia have been among the steadiest of the major relationships in the world after the Second World War,” Jaishankar said at a joint media briefing with Lavrov.
“Geo-political convergence, leadership contacts and popular sentiment remain its key drivers,” he said.
The external affairs minister landed in Moscow on Tuesday to fine tune various elements of President Putin’s visit to India either in November or December.
