Amid intensifying trade tensions between New Delhi and Washington, External Affairs Minister S. Jaishankar has firmly defended India’s energy ties with
Russia, insisting that the country will pursue policies guided solely by national interest. Addressing the Economic Times World Leaders Forum 2025 on Saturday, Jaishankar offered a sharp rebuttal to criticism of India's oil imports from Moscow. "It is presented as an oil issue but it's still not applied to the largest importer, China. Arguments used to target India have not been applied to China," he said. He underlined that New Delhi will not succumb to external pressure. "At the end of it all, we make decisions that are in national interest," he said, adding, "If you don’t like it, don’t buy it. But Europe buys, America buys. If you don’t like it, don’t buy from us."
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'Earlier they wanted India to buy Russian oil to stabalise prices': Jaishankar
Reflecting on the turmoil of 2022, when surging oil prices shook global markets, Jaishankar recalled that many had supported India’s purchases from Russia at the time. “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.”
The minister also stressed the importance of reducing overdependence on any single source of supply or market, drawing on lessons from recent geopolitical shocks. “Recent experience has taught us that don’t be excessively dependent on a single supply chain or a single country source. Recent experience has also taught us that don’t be dependent on a single market. So it isn’t just from the sourcing to the production, it is also from the production to the market,” he said.
The remarks come as US President Donald Trump imposed a 25% tariff on Indian goods exported to America, which have come into effect from August 7, and later announced an additional 25% tariff on India’s crude oil trade with Russia, set to take effect from August 27.
