'Let Us Remind...': Finland Backs India On Russian Oil Purchase | WATCH

Finland has come to India's defence over its continued purchases of Russian crude oil, with Finnish Foreign Minister Elina Valtonen saying New Delhi has acted within the framework of the G7-led oil price cap. Speaking alongside External Affairs Minister S Jaishankar at the Kultaranta Talks in Finland, Valtonen stressed that the price cap was designed to keep Russian oil flowing to global markets while limiting Moscow's profits, not to prevent countries such as India from buying the commodity.“In India's defence, it has bought oil under the price cap. That was the intention,” Finnish Foreign Minister Elina Valtonen said.She added, “When we introduced the oil price cap, we did not prohibit the world from buying Russian oil. The entire idea was not to disrupt

the oil market but to make sure oil continued to be supplied while Russia did not make massive margins from it.”Also Read: 'Europeans Sell Weapons Used to Attack India': Jaishankar Questions West's Hypocrisy on Russian Oil Purchase | WATCH

Jaishankar makes India's position on Russian crude clear

In a staunch defense of India's energy choices, External Affairs Minister S Jaishankar on Thursday delivered sharp remarks in Finland, highlighting the inherent contradictions in Western criticism over India's procurement of Russian crude oil. During the session, a journalist questioned India's position on the Russia-Ukraine conflict, accusing the nation of being "too sympathetic to Russia" and "too willing to buy oil from Russia".Responding firmly to the critique, Jaishankar articulated India's pragmatic approach to safeguarding its national interests. His remarks were delivered while participating in a discussion on 'Emerging Powers and the New Geopolitical Competition' at the Kultaranta Talks in Finland."I'll make two observations. I buy oil based on cost and availability. So at that point of time, much of the oil available in the market was Russian because Europeans were essentially buying oil from the Middle East, which was our traditional supplier. So circumstances pushed us in a certain direction," Jaishankar statedShe added, “When we introduced the oil price cap, we did not prohibit the world from buying Russian oil. The entire idea was not to disrupt the oil market but to make sure oil continued to be supplied while Russia did not make massive margins from it.”

Jaishankar recalled that in 2022, Washington itself recognised the vital role India played in maintaining global economic equilibrium. He noted that the United States had encouraged New Delhi to procure Russian crude to stabilise energy markets and prevent a catastrophic spike in global inflation following Western sanctions on Moscow."At that time, the US directly asked India to buy Russian oil to stabilise the oil market. We buy oil based on cost and availability," Jaishankar maintained during his address in Finland.