Can’t cut cheap oil import from Russia: India to West

Can’t cut cheap oil import  from Russia: India to West
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India on Tuesday expressed serious concern over the ongoing Russia-Ukraine conflict saying the world is watching its “consequences” after Covid took a toll on global economy along with the  issues of terrorism and climate.

Sounding this note of caution, External Affairs Minister S Jaishankar said in Moscow these developments have a disruptive impact on global progress and prosperity. His remarks came after his meeting with Russian Foreign Minister Sergey Lavrov against the backdrop of the Russia-Ukraine conflict and its impact on the prices of fuel, foodgrains and fertiliser.

The Minister reiterated New Delhi’s stand that dialogue and diplomacy are the way forward to resolve the conflict. He also referred to Prime Minister Narendra Modi’s message to Russian President Vladimir Putin a few weeks back that “today’s is not an era of war”.

On India’s likely response to calls by the West to cap Russian oil purchases, Jaishankar said there is indeed a stress on the energy markets due to a combination of factors.

“As the third-largest consumer of oil and gas and where incomes are not very high, we need to look for affordable sources, so the India-Russia relationship works to our advantage. We will keep it going,” he said.

In the last few months, India has increased the import of discounted crude oil from Russia notwithstanding increasing disquiet over it by several Western powers. Moreover, New Delhi, so far, has refrained from voting against Russia in the United Nations, and the United Nations Security Council (UNSC) on its military action in Ukraine.

Meanwhile, Lavrov and Jaishankar held wide-ranging parleys and discussed the entire spectrum of bilateral ties, besides the Ukraine conflict and its effect on fuel and food supply chains.

Visiting Russia for the first time since the Russian military action began in Ukraine in February this year, Jaishankar said the talks were devoted to assessing the state of our bilateral cooperation, exchanging perspectives on the international situation and “what that means to our respective interests.”

He pointed out that the two leaders were meeting for the fifth time this year adding “I think that speaks of our long term partnership and the importance that we attach to each other.”

Touching upon the international situation, he said, “The last few years of the Covid pandemic, financial pressures and trade difficulties have taken a toll on the global economy. We are now seeing the consequences of the Ukraine conflict on top of that. There are also the more perennial issues of terrorism and climate change, both of which have a disruptive impact on progress and prosperity.”

Underlining the steady relations between the two countries, Lavrov said India and Russia coordinate their action in international organisations such as the United Nations Security Council (UNSC) where India is now a non-permanent member.

“With the changes the international community is going through, it’s important to compare our notes, our assessments integrally on how we are going to work on the goals set by the Russian President and Prime Minister of India on economy, trade and investments,” he said.

Elaborating upon the regular interaction between the top leadership of two countries, Jaishankar said Prime Minister Modi and President Putin met most recently in Samarkand in September.

He also said the Defence Ministers of India and Russia recently talked to each other besides National Security Advisor (NSA) Ajit Doval visiting Moscow in August.

India and Russia have an “exceptionally” steady and time-tested relationship and the objective now is to fashion a balanced, mutually beneficial and long-term engagement in the backdrop of the increasing economic cooperation, Jaishankar said.

“India and Russia engage each other in an increasingly multi-polar and re-balanced world. We do so as two polities who have had an exceptionally steady and time-tested relationship,” he said.

Jaishankar’s visit to Russia assumes significance as it came over a week

before the G20 summit in Bali which is set to extensively deliberate on the Ukraine conflict and its implications.

Besides touching upon the adverse impact of the Covid-19 pandemic and the Ukraine conflict, Jaishankar also talked about terrorism and climate change challenges. He also drew the attention of the world towards the situation in Afghanistan and said it is a humanitarian situation.

In his opening remarks at the India Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technical and Cultural Co-operation, Jaishankar said the two countries have a long tradition of close cooperation and friendship which is reflected in our Special and Privileged Strategic partnership.

He said the trade between the two countries was expected to touch 30 billion dollars in terms of the annual trade turnover. Jaishankar also said he had come for the meeting with a delegation comprising senior representatives of seven different Ministries for substantive discussions on various issues and to chart the future course of action. Jaishankar held talks with Russian Deputy Prime Minister and Minister of Trade and Industry Denis Manturov.

Daily Pioneer
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