Trump's tariff escalation provokes vigorous reaction from India
In a recent statement, the Ministry of External Affairs (MEA) of India has rebutted criticism from the United States and the European Union over India's oil imports from Russia. The MEA asserts that the targeting of India for such imports is unjustified and unreasonable, given global market conditions and India's necessity to secure its energy needs.
The MEA's statement comes in response to a threat by US President Donald Trump to impose more tariffs on India for buying Russian oil. The criticism from the US and EU is primarily due to India's oil imports from Russia undermining the Western sanctions regime aimed at pressuring Russia to end its war in Ukraine.
India began importing oil from Russia after traditional supplies were diverted to Europe following the outbreak of the Ukraine conflict. Despite this, the MEA states that unlike India, such trade is not even a vital national compulsion for the US and EU. The MEA pointed out that the US and EU continue to have trade relations with Russia, including the import of uranium hexafluoride for their nuclear industry, palladium for their EV industry, fertilizers, and chemicals.
The MEA emphasizes India's energy security and cost considerations, purchasing Russian oil at a discount to reduce import expenses. India also maintains a longstanding strategy of balancing relations with the US, Russia, and China, prioritizing pragmatic energy needs over bloc allegiances.
Recent developments show cautious navigation of Western demands versus domestic needs, as Indian state refiners reportedly paused spot purchases of Russian crude amid tariff pressure but without an official government directive.
The European Union had a bilateral trade of Euro 67.5 billion in goods with Russia in 2024, while the EU-Russia trade includes fertilizers, mining products, chemicals, iron and steel, and machinery and transport equipment. European imports of LNG in 2024 reached a record 16.5 million tonnes, surpassing the record of 15.21 million tonnes in 2022.
India's Prime Minister, Narendra Modi, is currently in office, and the country will take all necessary measures to safeguard its national interests and economic security. The MEA's stance underscores India's commitment to maintaining its independent foreign policy, balancing its relationships with major global powers, and ensuring its energy security in a challenging geopolitical landscape.
- The Indian Ministry of External Affairs (MEA) has defended its oil imports from Russia, asserting that it's necessary for securing India's energy needs and justifiable in light of global market conditions.
- The MEA's defense comes in response to threats by US President Donald Trump to impose more tariffs on India for such oil purchases.
- Criticism from the US and EU stems from India's oil imports from Russia undermining the Western sanctions regime against Russia.
- Unlike India, the US and EU continue to trade with Russia, including the import of uranium hexafluoride for their nuclear industry, palladium for their EV industry, fertilizers, and chemicals.
- The MEA stresses India's energy security and cost considerations, citing discounted Russian oil purchases to reduce import expenses.
- India's strategy involves balancing relations with the US, Russia, and China, prioritizing pragmatic energy needs over bloc allegiances.
- Recent developments show India navigating Western demands versus domestic needs, with Indian state refiners reportedly pausing spot purchases of Russian crude amid tariff pressure.
- Amidst these geopolitical challenges, India under Prime Minister Narendra Modi is committed to maintaining its independent foreign policy, balancing relationships with major global powers, and ensuring its energy security.
