https://sputniknews.in/20250903/india-firm-on-russian-oil-imports-as-eu-mulls-more-sanctions-9707592.html
India Firm on Russian Oil Imports as EU Mulls More Sanctions
India Firm on Russian Oil Imports as EU Mulls More Sanctions
Sputnik India
Germany's Foreign Minister Johann Wadephul acknowledged during a joint press conference with EAM S Jaishankar that both the countries don't see "eye to eye" on the Ukraine issue due to strong India-Russia ties.
2025-09-03T20:53+0530
2025-09-03T20:53+0530
2025-09-03T20:53+0530
world news
narendra modi
vladimir putin
emmanuel macron
india
russia
germany
european union (eu)
shanghai cooperation organisation (sco)
ministry of external affairs (mea)
https://cdn1.img.sputniknews.in/img/07e8/0c/10/8551250_0:0:3072:1728_1920x0_80_0_0_fdcb9c7e8aa7cf56ca97d3105c95e2af.jpg
India has held firm on its stance on Russian oil purchases even as Germany's Foreign Minister Johann Wadephul spoke of more "targetted" measures, while conceding that 18 rounds of EU sanctions packages have failed to dent Moscow's crude revenues.The German Foreign Minister's visit to New Delhi comes just two days after Prime Minister Narendra Modi held a bilateral meeting with President Vladimir Putin on the margins of the Shanghai Cooperation Organisation (SCO) Heads of States (HOS) meeting in Tianjin, China.A readout from the Ministry of External Affairs (MEA) said that both leaders "expressed satisfaction with the sustained growth" in cooperation in the energy sector among others. The meeting took place days after the US imposed a 25% tariff on India, in addition to the 25% tariff previously imposed, over Russian crude purchases.In an op-ed in an Indian newspaper, Petroleum and Natural Gas Minister Hardeep Singh Puri said that there was no "substitute" for Russian oil and warned that phasing out Russian crude from the market could spike up global prices to $200 per barrel.At the 25th Franco-German Council of Ministers Meeting last week, German Chancellor Friedrich Merz and French President Emmanuel Macron called for secondary sanctions against companies from "third countries" for being engaged in business with Russia. EU's top diplomat Kaja Kallas said last month that another round of sanctions package could be unveiled this month.India exported $19.2 billion worth of petroleum products to the EU in FY24 and $15 billion worth of these products in FY25, according to an analysis by Indian think tank Global Trade Research Initiative (GTRI). India's imports of seaborne crude from Russia were around $50.3 billion in FY25, accounting for around 33% of its overall imports. In the first seven months of 2025, Russia continued to remain India's top oil supplier, with imports expected to see a monthly increase this month."As far as Europe is concerned, that includes sanctions being imposed on Russia. We haven't used tariffs but it was sanctions that we have used against Russia.. To do so, we took several steps and measures, which include several rounds of sanction packages, oil pricing cap..." Wadephul said.
https://sputniknews.in/20250821/jaishankar-lavrov-high-level-talks-kick-off-in-moscow-9638045.html
india
russia
germany
ukraine
china
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2025
Dhairya Maheshwari
https://cdn1.img.sputniknews.in/img/07e6/0c/13/138962_0:0:641:640_100x100_80_0_0_2cb44360dbcdf6d84bf4b299cd045917.jpg
Dhairya Maheshwari
https://cdn1.img.sputniknews.in/img/07e6/0c/13/138962_0:0:641:640_100x100_80_0_0_2cb44360dbcdf6d84bf4b299cd045917.jpg
News
en_IN
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Dhairya Maheshwari
https://cdn1.img.sputniknews.in/img/07e6/0c/13/138962_0:0:641:640_100x100_80_0_0_2cb44360dbcdf6d84bf4b299cd045917.jpg
german foreign minister visit to india, eu sanctions on russia, eu sanctions rosneft, eu sanctions on russian oil, eu sanctions on india, eu sanctions nayara, russian oil sanctions, russian oil india, russian oil news, modi putin meeting, russian oil price, russian oil reserve, russian oil trade with india, trump tariffs
german foreign minister visit to india, eu sanctions on russia, eu sanctions rosneft, eu sanctions on russian oil, eu sanctions on india, eu sanctions nayara, russian oil sanctions, russian oil india, russian oil news, modi putin meeting, russian oil price, russian oil reserve, russian oil trade with india, trump tariffs
India Firm on Russian Oil Imports as EU Mulls More Sanctions
Germany's Foreign Minister Johann Wadephul acknowledged during a joint press conference with External Affairs Minister (EAM) S Jaishankar in New Delhi on Monday that both the countries don't see "eye to eye" on the Ukraine issue due to strong India-Russia ties.
India has held firm on its stance on Russian oil purchases even as Germany's Foreign Minister Johann Wadephul spoke of more "targetted" measures, while conceding that 18 rounds of EU sanctions packages have failed to dent Moscow's crude revenues.
Sources told Sputnik India that India's energy procurement policies were based on market factors and to ensure energy security for 1.4 billion Indians. They said that it was entirely up to European countries to decide whether to buy refined petroleum products derived from Russian crude from India. "If they don't want to buy, then don't buy it," sources said, reiterating what External Affairs Minister (EAM) S Jaishankar had said in the context of US tariffs last month.
The German Foreign Minister's visit to New Delhi comes just two days after
Prime Minister Narendra Modi held a
bilateral meeting with
President Vladimir Putin on the margins of the
Shanghai Cooperation Organisation (SCO) Heads of States (HOS) meeting in Tianjin, China.
A readout from the Ministry of External Affairs (MEA) said that both leaders "expressed satisfaction with the sustained growth" in cooperation in the energy sector among others. The meeting took place days after the US imposed a 25% tariff on India, in addition to the 25% tariff previously imposed, over Russian crude purchases.
In an op-ed in an Indian newspaper,
Petroleum and Natural Gas Minister Hardeep Singh Puri said that there was no "substitute" for Russian oil and warned that
phasing out Russian crude from the market could spike up global prices to $200 per barrel.
At the 25th Franco-German Council of Ministers Meeting last week, German Chancellor Friedrich Merz and French President Emmanuel Macron called for secondary sanctions against companies from "third countries" for being engaged in business with Russia. EU's top diplomat Kaja Kallas said last month that another round of sanctions package could be unveiled this month.
India exported $19.2 billion worth of petroleum products to the EU in FY24 and $15 billion worth of these products in FY25, according to an analysis by Indian think tank Global Trade Research Initiative (GTRI). India's imports of seaborne crude from Russia were around $50.3 billion in FY25, accounting for around 33% of its overall imports.
In the first seven months of 2025, Russia continued to remain India's top oil supplier, with imports expected to see a monthly increase this month.
Addressing a joint press briefing along with EAM S Jaishankar on Monday, the visiting German Foreign Minister said that it was a "challenge" to discuss India-Russia ties with his Indian counterpart.
"As far as Europe is concerned, that includes sanctions being imposed on Russia. We haven't used tariffs but it was sanctions that we have used against Russia.. To do so, we took several steps and measures, which include several rounds of sanction packages, oil pricing cap..." Wadephul said.
The German diplomat said that despite all the western sanctions, their "purpose is not being served", adding that the EU would continue to pursue "targeted steps" on the issue.
