Indian minister defends Russian oil trade from critics
Date
7/18/2024 8:40:10 AM
(MENAFN) Hardeep Singh Puri, India’s Minister of petroleum and Natural Gas, staunchly defended India’s energy collaboration with Russia, emphasizing its critical importance for India's national interests and long-term energy goals. In an interview with Indian actor Anupam Kher on the RT show 'Let’s Talk Bharat,' Puri underscored that the bilateral cooperation spans crucial sectors from crude oil imports to advancements in hydrogen and nuclear power technologies.
Puri, a former diplomat, highlighted India's strategic reliance on Russian oil, particularly intensified since the onset of the Ukraine conflict in 2022. He argued that such imports were instrumental in averting a potential global economic crisis, positing that without Russian oil, global prices could have surged to unprecedented levels of $250-$300 per barrel.
Addressing criticisms regarding India's stance on Russian oil amidst Western sanctions, Puri pointed out exemptions for pipeline deliveries to Hungary and China, as well as sales from Sakhalin to Japan and the Far East. He questioned the intended targets of these sanctions, stressing India's commitment to procuring crude oil from sources offering the most competitive prices. Notably, Russian oil imports have surged dramatically from 0.2% in February 2022 to nearly 40% of India's total imports currently.
Amidst the discourse surrounding the ethical implications of trading with Russia during global geopolitical tensions, Puri asserted in a widely-publicized CNN interview that India prioritizes pragmatic solutions to its energy needs. He dismissed notions of a "moral conflict," asserting instead that the Indian government holds a "moral duty" to ensure energy security and affordability for its consumers, given India's energy consumption, which stands significantly higher than the global average.
Puri's statements underscore India's steadfast approach to navigating complex global energy dynamics while safeguarding its national interests and economic stability amidst global uncertainties.
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