March 22, 2023

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India urges not to “politicize” the purchase of crude oil from Russia amid sanctions

This content was released on March 18, 2022 – 10:17

New Delhi, March 18 (EFE) .- Unlike other countries, India on Friday called on New Delhi not to “politicize” the purchase of crude oil from Russia in defiance of international sanctions, as it “must continue to focus on competitive energy sources”. , They have to import 85% of the oil they use.

“India’s formal energy transactions should not be politicized,” Indian government sources said in a statement, stressing that the country “relies heavily on imports to meet its energy needs”.

Therefore, he noted that almost 85% of its crude oil demand (5 million barrels per day) should be imported, although until now “Russia is a small supplier” because there are no bilateral import agreements and it is less than 1%. In your needs.

Currently, most of India’s imports come from Iraq (23%), Saudi Arabia (18%), the United Arab Emirates (11%) or the United States (7.3%), which is expected to increase by one per cent. According to the reference, up to 11% per annum.

But India recalled that “geopolitical developments posed significant challenges” to its energy security, not only because of the war in Ukraine, but also because of sanctions on Venezuela or Iran.

India, which has been neutral in the Ukrainian conflict due to its strong security ties with Russia and Moscow’s control over its adversary China, has been criticized by some countries for raising restrictions when energy is “self-sufficient” or persistent. Oil or gas to Moscow.

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“India must continue to focus on competitive energy sources. We welcome offers from all manufacturers. Indian traders are also operating in global energy markets to explore the best options,” he concluded.

The report comes after White House spokeswoman Zhen Zhao was asked at a news conference last Tuesday about the possibility of India buying crude oil from Russia.

The spokesman responded that countries should follow the sanctions imposed on Moscow, although he did not think it violated New Delhi’s sanctions.

“But now when the history books are being written, think about where you want to be. Support for the Russian leadership is obviously support for an invasion that will have a catastrophic impact,” Psaki added. EFE

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