New Delhi: The United States on Tuesday (local time) said that India would not be violating US sanctions by purchasing discounted Russian oil. The US, however, added that the Russian oil deal would put the world’s largest democracy, India, on the “wrong side of history”.
At the daily news conference in the Brady Press Briefing Room at the White House on March 15, White House press secretary Jen Psaki was asked about the reports of India considering a Russian offer to buy crude oil and other commodities at discounted prices, a week after the US banned all Russian energy imports. Psaki said that the Joe Biden administration’s message would be for countries to abide by US sanctions, news agency ANI reported.
"I don't believe this would be violating that, but also think about where you want to stand," an ANI report quoted Psaki as saying. "When the history books are written at this moment in time, support for Russia - the Russian leadership - is support for an invasion that obviously is having a devastating impact,” Psaki added.
The invasion of Ukraine has not been condemned by India. The country has also abstained from voting at the United Nations calling out Russia’s aggression against Ukraine. In recent weeks, US officials said that they would like India to distance itself from Russia as much as possible, while also recognising its heavy reliance on Moscow for everything from arms and ammunition to missiles and fighter jets.
Russian Deputy Prime Minister Alexander Novak had a telephonic conversation with the Union Minister of Petroleum and Natural Gas, Hardeep Puri, last week. The parties discussed current and potential joint projects in the fuel and energy industry and noted that current projects continue to be steadily implemented, according to a statement issued by Moscow.
Novak said that Russia is keen to increase its oil and petroleum product exports to India along with Indian investments in the Russian oil sector.
“What we have is a particularly privileged strategic partnership; the leaders of our countries maintain regular contact. Mutually beneficial cooperation is actively promoted, including the Arctic LNG 2 and Sakhalin 1 projects. Gazprom supplies LNG to India, and Rosneft continues its systematic work with its Indian partners. We are interested in further attracting Indian investment to the Russian oil and gas sector and expanding Russian companies’ sales networks in India,” the statement quoted Novak as saying.
The Deputy Prime Minister said that Russia’s oil and petroleum product exports to India have approached USD 1 billion, and there are clear opportunities to increase this figure. “We expect to continue cooperating in the development of peaceful nuclear power, in particular, in building the nuclear power units at Kudankulam,” Novak added.
Novak and Puri also discussed cooperation between the two countries in education, in particular, expanding opportunities for Indian students to study at Russian universities, according to the statement.
India’s largest refiner, Indian Oil Corporation, purchased three million barrels of Russian crude oil, media reports said Monday. This was the first such transaction since Russia’s invasion of Ukraine on February 24.
India is the world’s third-largest oil consumer and importer, and currently imports 80 per cent of its oil. However, only two to three per cent of those purchases come from Russia.