"I am smart enough to have multiple options...": EAM Jaishankar reasserts Indian stand to buy Russian oil - Punjabi News

Published on: 18 Feb 2024 at 07:29 AM

“I am smart enough to have multiple options…”: EAM Jaishankar reasserts Indian stand to buy Russian oil

Published by: thefactnews

The Fact News Service

Munich [Germany], February 18

External Affairs Minister S Jaishankar on Saturday reaffirmed India’s stand and commitment to buy Russian oil despite respective sanctions on Moscow amid the military conflict with Ukraine, saying it should not be a problem for others.

Speaking on the sidelines of the ongoing Munich security conference, Jaishankar said it’s hard to have a unidimensional relationship in the contemporary world.

afternoon.”

He stated further that India has made several statements articulating its position vis-a-vis the ongoing Russia-Ukraine conflict. “Briefly what that position state is that we are against the conflict, we are for dialogue and diplomacy, we are for urgent cessation of violence and we are prepared to contribute to these objectives in whatever ways,” he said.

Russia accounted for over 35 per cent of India’s total crude imports in 2023, amounting to approximately 1.7 million barrels per day, according to data from S&P Global Commodity Insights.

Last year, Russia’s oil exports, according to reports, reached the highest level since April 2020 in physical terms in March 2023 due to an increase in supplies of oil products, while export revenues rose by USD 1 billion compared with February to USD 12.7 billion, according to TASS, a Russian news agency.

Russia’s supplies by sea grew by 0.6 million barrels per day to 8.1 mn barrels per day, the agency said, adding that deliveries of petroleum products rose by 450,000 barrels per day month-on-month to 3.1 million barrels per day.