https://sputniknews.in/20230104/india-rejects-war-profiteer-label-amid-ukraine-crisis-375243.html
India Rejects 'War Profiteer' Label Amid Ukraine Crisis
India Rejects 'War Profiteer' Label Amid Ukraine Crisis
Sputnik India
Before February 2022, Russia accounted for less than 1% of India's total oil imports. However, in recent months, Russia has become the top supplier of oil to India.
2023-01-04T11:36+0530
2023-01-04T11:36+0530
2023-01-18T15:37+0530
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Indian Foreign Minister S. Jaishankar on Wednesday rejected allegations by Western and Ukrainian analysts that New Delhi is exploiting the ongoing conflict between Russia and Ukraine by purchasing large amounts of energy at discounted rates from Russia.The minister, who concluded his visit to Austria and Cyprus on Tuesday, stated that oil prices have doubled as a result of the conflict between Russia and Ukraine, as well as sanctions against Iran and Venezuela. "In such a situation, if you get a better price than other countries, you still pay much more than before," he underlined.According to the Indian minister, Europe imported approximately $120 billion worth of energy from Russia after Moscow started its military operation in Ukraine, which is six times more than what India purchased."When Europe reduces its imports from Russia, it has to go to other oil markets. And those markets have been our main sources. If you take away my food, what am I going to do? Starve?" the minister said.He also rejected criticism of India's neutral stance on the crisis in Ukraine, pointing out that each country must judge events based on its own interests and history.Jaishankar also commented on the changing world order, noting that both Barack Obama and Donald Trump recognized the need for the US to reposition itself and seek cooperation with other countries.Reckoning that world are already in “dangerous times”, the minister believes that the transition to a new world order will be a long process, given the significant changes taking place.He also observed that Europe has taken a defensive stance towards the world since the financial crisis in 2008, focusing on developing within its own region and avoiding involvement in tough security issues.Ukrainian Foreign Minister Dmytro Kuleba had accused India of taking advantage of the ongoing conflict between Russia and Ukraine by purchasing discounted energy from Russia. Kuleba stated that Ukraine expected more practical support from India in its fight against Russia's military and claimed that by purchasing crude oil from Russia, India is effectively "buying Ukrainian blood".Russia has become India's top supplier of oil, accounting for 22% of the country's total oil imports. In November, India imported 1.7 million barrels per day of crude oil from Russia, with inbound shipments reaching a record high ahead of the European Union's move to impose a price cap on December 5. India's crude oil imports increased by 52.58% to $146.57 billion during the period of April-November in the current fiscal year, according to data from the Commerce Ministry. It marks a significant increase from the previous year, when crude oil imports were at $96.06 billion for the same period.
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russian oil supply to india, indian oil purchases from russia in 2022, how much oil india buys from russia in 2022, ukraine russia war, indian foreign minister jaishankar rejects war profiteering accusation
russian oil supply to india, indian oil purchases from russia in 2022, how much oil india buys from russia in 2022, ukraine russia war, indian foreign minister jaishankar rejects war profiteering accusation
India Rejects 'War Profiteer' Label Amid Ukraine Crisis
11:36 04.01.2023 (Updated: 15:37 18.01.2023) Before February 2022, Russia accounted for less than 1% of India's total oil imports. However, Russia has become the top oil supplier to India recently.
Indian Foreign Minister S. Jaishankar on Wednesday rejected allegations by Western and Ukrainian analysts that New Delhi is exploiting the ongoing conflict between Russia and Ukraine by purchasing large amounts of energy at discounted rates from Russia.
"I vehemently reject - politically and also mathematically - that India is a war profiteer", Jaishankar said in an interview with German media.
The minister, who
concluded his visit to Austria and Cyprus on Tuesday, stated that oil prices have doubled as a result of the conflict between Russia and Ukraine, as well as sanctions against Iran and Venezuela. "In such a situation, if you get a better price than other countries, you still pay much more than before," he underlined.
According to the Indian minister, Europe imported approximately $120 billion worth of energy from Russia after Moscow started its military operation in Ukraine, which is six times more than what India purchased.
"When Europe reduces its imports from Russia, it has to go to other oil markets. And those markets have been our main sources. If you take away my food, what am I going to do? Starve?" the minister said.
He also rejected criticism of India's neutral stance on the crisis in Ukraine, pointing out that each country must judge events based on its own interests and history.
"Each state judges events according to its location, interests and history. There are also incidents in Asia, where countries in Europe or Latin America do not feel the need to take a position", Jaishankar said.
Jaishankar also commented on the changing world order, noting that both Barack Obama and Donald Trump recognized the need for the US to reposition itself and seek cooperation with other countries.
Reckoning that world are already in “dangerous times”, the minister believes that the transition to a new world order will be a long process, given the significant changes taking place.
He also observed that Europe has taken a defensive stance towards the world since the financial crisis in 2008, focusing on developing within its own region and avoiding involvement in tough security issues.
Ukrainian Foreign Minister Dmytro Kuleba had accused India of taking advantage of the ongoing conflict between Russia and Ukraine by purchasing discounted energy from Russia.
Kuleba stated that Ukraine expected more practical support from India in its fight against Russia's military and claimed that by
purchasing crude oil from Russia, India is effectively "buying Ukrainian blood".
Russia has become India's top supplier of oil, accounting for 22% of the country's total oil imports.
In November, India imported 1.7 million barrels per day of crude oil from Russia, with inbound shipments reaching a record high ahead of the European Union's move to impose a price cap on December 5.
India's crude oil imports increased by 52.58% to $146.57 billion during the period of April-November in the current fiscal year, according to data from the Commerce Ministry. It marks a significant increase from the previous year, when crude oil imports were at $96.06 billion for the same period.
