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India Shows Interest in Broadening Oil Sources
(MENAFN) US Secretary of State Marco Rubio announced on Saturday that India has shown a desire to broaden its oil import sources.
Rubio made this statement while speaking to journalists after last week’s declaration of fresh US sanctions against major Russian oil companies, Rosneft and Lukoil.
When asked whether India might consider decreasing its reliance on Russian oil, Rubio responded, “Well, I think India has already expressed an interest in diversifying their oil portfolio and who they buy from. And, so, India only needs so much oil.”
A few hours after his remarks, Rubio held a meeting with Indian Foreign Minister S. Jaishankar on the sidelines of the ASEAN Summit in Malaysia.
During their discussion, the two leaders addressed bilateral cooperation along with regional and international matters.
Earlier in the week, US President Donald Trump reiterated his assertion that India would scale back its oil imports from Russia following his recent conversation with Indian Prime Minister Narendra Modi.
In August, the United States introduced a 25% tariff on Indian goods, citing India’s rising purchases of Russian crude and suggesting that these transactions were indirectly sustaining the conflict in Ukraine.
By September, Russian oil accounted for 34% of India’s total imports.
New Delhi has consistently criticized what it calls “double standards” in the global energy market, emphasizing that it “does not subscribe to any unilateral sanction measures” and describing itself as a “responsible actor” within the international energy framework.
Rubio made this statement while speaking to journalists after last week’s declaration of fresh US sanctions against major Russian oil companies, Rosneft and Lukoil.
When asked whether India might consider decreasing its reliance on Russian oil, Rubio responded, “Well, I think India has already expressed an interest in diversifying their oil portfolio and who they buy from. And, so, India only needs so much oil.”
A few hours after his remarks, Rubio held a meeting with Indian Foreign Minister S. Jaishankar on the sidelines of the ASEAN Summit in Malaysia.
During their discussion, the two leaders addressed bilateral cooperation along with regional and international matters.
Earlier in the week, US President Donald Trump reiterated his assertion that India would scale back its oil imports from Russia following his recent conversation with Indian Prime Minister Narendra Modi.
In August, the United States introduced a 25% tariff on Indian goods, citing India’s rising purchases of Russian crude and suggesting that these transactions were indirectly sustaining the conflict in Ukraine.
By September, Russian oil accounted for 34% of India’s total imports.
New Delhi has consistently criticized what it calls “double standards” in the global energy market, emphasizing that it “does not subscribe to any unilateral sanction measures” and describing itself as a “responsible actor” within the international energy framework.
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