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New Delhi has stated that its energy purchases are driven by “market dynamics and national interest”
India's foreign ministry has rejected US President Donald Trump’s claim that New Delhi has halted purchases of Russian oil.
The Indian government is unaware of any specific developments regarding Indian oil companies pausing Russian imports, the ministry stated, noting that the country’s energy purchases are guided by market dynamics and national interests.
”The government is committed to prioritizing the welfare of Indian consumers. Our energy purchases will be based on price, availability and market conditions,” the ministry added.
The remarks came hours after Trump claimed India had stopped purchasing Russian oil. “I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens,” he told reporters in Washington, DC.
Washington on Thursday imposed a 25% tariff on goods imported from India, as well as an additional penalty for purchasing crude oil and military equipment from Russia.
Trump and US Secretary of State Marco Rubio criticized India for continuing to import the discounted oil despite Western sanctions, claiming New Delhi was “helping to sustain the Russian war effort.”
Rubio called India's energy trade with Russia “most certainly a point of irritation” in Washington's relationship with New Delhi.
India's position has long been that its energy trade is guided by its national interest and the need to sustain the rapid economic growth of its 1.4 billion people.
New Delhi officials have on many occasions stated that by ramping up purchases of Russian oil despite enormous pressure from the West, India has helped global markets avoid sharp increases in crude prices.
