New Delhi: Before the Prime Minister Narendra Modi’s visit to the United Kingdom, Foreign Minister Vikram Misri tackled issues about Western pressure on India on the purchase of Russian oil on Tuesday. He clearly indicated that India’s energy needs are first.Misri said: “… We were very clear that energy security of energy security is the highest priority of the government of India to ensure the energy security of the inhabitants of India, and we will do what we have to do on this subject.”
He added: “On the problems related to energy itself, as we said previously, it is important not to have double standards and to have a clear perception of the eyes of what the world situation is to the extent that the energy market is wider … We understand that there is an important and serious security problem that is confronted in Europe, but the rest of the world is also there. These are also existential problems for the rest of the world, and I think it is important to keep balance and perspective when you talk about these problems.“”His comments came after the European Union imposed a new series of sanctions on Russia during his war in Ukraine. The latest EU movement includes restrictions on fuels made from Russian crude and reduces the price of oil prices. It also targets the Indian refinery of the Rosneft joint venture and imposes new bank borders, all aimed at cutting Russian oil income.
EU sanctions against Russian oil: what does that mean for India?
- The last sanctions of the European Union should have an impact on countries like India, Turkey and the United Arab Emirates, which refine raw fuels and Russian exporters such as diesel, petrol and fuel to throw to Europe.
- According to the founder of GTRI, Ajay Srivastava, “exports of oil products of $ 5 billion from India to the EU are in danger. New EU sanctions prohibit refined oil imports made from a Russian crude via third countries like India.”
- Exports of petroleum products from India to the EU increased from $ 19.2 billion in 2010 to $ 15 billion in FY5 – a drop of 27.1%, in accordance with the analysis of the reflection group.
- During the year 2010, India imported a value of $ 50.3 billion in crude oil from Russia, representing more than a third of its total crude oil bill of $ 143.1 billion.
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At the same time, the US administration led by Trump also took a difficult line. President Donald Trump and other American leaders have warned countries like India, China and Brazil – all members of the BRICS – that they could face severe economic sanctions for continuing to import Russian oil.Speaking on Fox News, the American senator Lindsey Graham said: “I would say that China, India and Brazil. If you continue to buy cheap Russian oil, to allow this war to continue, we will priced the hell of you”.President Trump had already echoed a similar warning at a meeting with the secretary general of NATO, Mark Rutte, at the White House. He said the United States would impose 100% of “secondary prices” on countries that continue to buy Russian oil and gas if President Vladimir Putin does not accept a peace agreement in the next 50 days.
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