India's Energy Decisions Based on Availability and Price, Says Jaishankar
External Affairs Minister Dr. S. Jaishankar strongly defended India's decision to import Russian oil, stating that New Delhi's energy choices have always been guided by national interests, market realities, and global supply considerations rather than political posturing.
Speaking on India's energy policy and relations with major powers, Jaishankar pointed out that India did not purchase significant quantities of Russian oil until 2022. However, changing global circumstances and disruptions in energy markets compelled India to enter the Russian oil market.
"We didn't buy significant amounts of Russian oil till 2022. Circumstances compelled us to get into that market, and I must say the Russians have been steady suppliers because they put the cargoes out there and you go out there and buy oil, whichever is the most reasonable and available oil," he said.
The External Affairs Minister also recalled that during the height of the global energy crisis, the United States had specifically encouraged India to purchase Russian oil in order to help stabilize international energy markets.
"At that time, the US specifically asked India to buy Russian oil to stabilize the world markets," Jaishankar remarked, adding that policy shifts by Washington on sanctions and tariffs reflected changing geopolitical priorities rather than any fixed principle.
Highlighting India's diversified energy strategy, Jaishankar noted that Russia currently supplies just under 40 percent of India's oil imports. At the same time, the United States has emerged as India's largest supplier of natural gas, replacing Qatar as the top source earlier this year.
"Today our largest oil supplier is Russia. Our largest gas supplier is the United States. What is happening is that the world is also de-risking on the region. People are looking for alternative energy sources," he said.
The minister emphasized that India's approach remains pragmatic, focused on ensuring affordable and reliable energy supplies for its growing economy while navigating an increasingly complex global geopolitical environment.
His remarks come amid ongoing debates over sanctions, energy security, and the shifting dynamics of global oil and gas markets.
