Ahead of Yellen journey, India agency on Russian oil import

Express News Service

NEW DELHI:  External Affairs Minister S Jaishankar on Tuesday indicated India will proceed importing crude oil from Russia regardless of Western unease, after holding wide-ranging talks along with his Russian counterpart Sergey Lavrov in Moscow. 

“As the world’s third-largest consumer of oil and gas, a consumer where the levels of income are not very high, it is our fundamental obligation to ensure that the Indian consumer has the best possible access on the most advantageous terms to international markets,” Jaishankar mentioned at a joint media convention with Lavrov.

Foreign minister S Jaishankar along with his
Russian counterpart Sergey Lavrov
after a press meet in Moscow on Tuesday | AP

The talks got here days earlier than US Treasury Secretary Janet Yellen arrives in Delhi, with indications that capping Russian oil costs might be on the talks agenda. Russia final month turned India’s largest oil provider jacking up its share from lower than 2% of India’s oil basket earlier than the Ukraine battle to almost 22% now.

This was the fifth assembly  for the 2 overseas ministers this 12 months although it was Jaishankar’s first go to to Moscow because the Ukraine battle. He was accompanied by senior officers from the ministries of agriculture, petroleum and pure gasoline, ports, transport and waterways, finance, chemical substances and fertilisers in addition to commerce and trade, indicating the breadth of the bilateral engagement. 

Describing the bilateral ties as time-tested, Jaishankar mentioned, “India and Russia interact one another in an more and more multi-polar and re-balanced world. We accomplish that as two polities who’ve had an exceptionally regular and time-tested relationship.’’ After the assembly, each side resolved to increase their commerce ties, with India stressing the necessity to enhance the bilateral commerce stability by growing exports to Russia.

“We reviewed progress of our area and nuclear packages. It can also be important that our time-tested defence relationship continues to carry out easily,’’ he added.

On Ukraine, Jaishankar reiterated Prime Minister Narendra Modi’s ‘no era for war’ pitch and articulated India’s continued stand of dialogue and peaceable decision of the battle. “The global economy is simply too inter-dependent for a significant conflict anywhere, not to have major consequences elsewhere. India, therefore, strongly advocates a return to dialogue and diplomacy. We are clearly on the side of peace, respect for international law and support for the UN Charter.” 

NEW DELHI:  External Affairs Minister S Jaishankar on Tuesday indicated India will proceed importing crude oil from Russia regardless of Western unease, after holding wide-ranging talks along with his Russian counterpart Sergey Lavrov in Moscow. 

“As the world’s third-largest consumer of oil and gas, a consumer where the levels of income are not very high, it is our fundamental obligation to ensure that the Indian consumer has the best possible access on the most advantageous terms to international markets,” Jaishankar mentioned at a joint media convention with Lavrov.

Foreign minister S Jaishankar along with his
Russian counterpart Sergey Lavrov
after a press meet in Moscow on Tuesday | APThe talks got here days earlier than US Treasury Secretary Janet Yellen arrives in Delhi, with indications that capping Russian oil costs might be on the talks agenda. Russia final month turned India’s largest oil provider jacking up its share from lower than 2% of India’s oil basket earlier than the Ukraine battle to almost 22% now.

This was the fifth assembly  for the 2 overseas ministers this 12 months although it was Jaishankar’s first go to to Moscow because the Ukraine battle. He was accompanied by senior officers from the ministries of agriculture, petroleum and pure gasoline, ports, transport and waterways, finance, chemical substances and fertilisers in addition to commerce and trade, indicating the breadth of the bilateral engagement. 

Describing the bilateral ties as time-tested, Jaishankar mentioned, “India and Russia interact one another in an more and more multi-polar and re-balanced world. We accomplish that as two polities who’ve had an exceptionally regular and time-tested relationship.’’ After the assembly, each side resolved to increase their commerce ties, with India stressing the necessity to enhance the bilateral commerce stability by growing exports to Russia.

“We reviewed progress of our area and nuclear packages. It can also be important that our time-tested defence relationship continues to carry out easily,’’ he added.

On Ukraine, Jaishankar reiterated Prime Minister Narendra Modi’s ‘no era for war’ pitch and articulated India’s continued stand of dialogue and peaceable decision of the battle. “The global economy is simply too inter-dependent for a significant conflict anywhere, not to have major consequences elsewhere. India, therefore, strongly advocates a return to dialogue and diplomacy. We are clearly on the side of peace, respect for international law and support for the UN Charter.”