Source: The Economic Times
New Delhi, August 23, 2025 – External Affairs Minister S. Jaishankar strongly defended India’s oil relationship with Russia and said it serves the interests of the nation and international systems by anchoring prices, speaking at the Economic Times World Leaders Forum. He added that India will make its own decisions when it comes to energy and trade, notwithstanding U.S. pressure.
Oil Buying in National and Global Interest
According to Jaishankar, India’s decision to buy Russian crude is driven by energy security. When confronted by American critics, he mused, “It’s funny to have people who work for a pro-business American administration accusing other people of doing business. If you have a problem buying oil or refined products from India, don’t buy them. Nobody forces you to buy it. Europe buys, America buys, so you don’t like it, don’t buy it,”.
He noted that in 2022, when oil prices surged, there was global concern. “In 2022, there was deep nervousness on the international level due to oil prices going up. That time, it was said that if India wants to buy Russian oil, let them, because that would stabilise prices,” he added.
Jaishankar said India’s purchases were intended to calm the markets as well. “We are buying oil to stabilise the oil prices. Yes, it is in our national interest but it is also in a global interest,” he said
Diplomatic Engagements with Russia and Stance on the Ukraine War
The minister also revealed the details of his fresh talks in Moscow. He said “We’d like to increase trade with Russia.” Both sides agreed to enhance annual trade and deepen economic engagement. On the war in Ukraine, he clarified that India’s position has been consistent
“Where India stands is very clear and we want an early end to the Russia-Ukraine issue.”
Trade Issues With the U.S.
Jaishankar’s remarks come at a time when the U.S. has increased tariffs on Indian exports and placed secondary sanctions on Russian oil. He acknowledged that trade is a particularly tough issue between the two countries, even though their overall ties are strong. “We have red lines in the negotiations, and we have to be clear about them. We are committed to protecting the interests of farmers and small businesses,” he said.
Broader India–U.S. Relations
Jaishankar also commented on India’s relationships with major powers, declaring that with both the U.S. and China, there would be phases of cooperation and contention. He observed that there are differences with Washington now, but many other aspects of the relationship remain clearly positive. “We are two big countries, we need to have conversations and we will see how it goes,” he said.
