External Affairs Minister S Jaishankar has taken a jab at Europe once again and said that Europe has imported six times the fossil fuel energy from Russia that India has done and that if a USD 60,000-per-capita society feels it needs to look after itself, and I accept that as legitimate, they should not expect a USD 2,000-per-capita society to take a hit.
A New York Times report titled as “Russia’s War Could Make It India’s World” stated that the Ukraine war’s compounding effects have fueled the country’s ascent. Global supply chains are reducing the risk by diversifying toward an open India and away from China’s surveillance state. India is relatively insulated from economic turbulence by its huge domestic market, the New York Times report read.
The report quoted Jaishankar as saying “world order which is still very, very deeply Western” is being hurried out of existence by the impact of the war in Ukraine, to be replaced by a world of “multi-alignment” where countries will choose their own “particular policies and preferences and interests.”
“I would still like to see a more rules-based world. But when people start pressing you in the name of a rules-based order to give up, to compromise on what are very deep interests, at that stage I’m afraid it’s important to contest that and, if necessary, to call it out,” the New York Times report quoted Jaishankar as saying.
Earlier in December, Jaishankar defended India’s stance on importing crude oil from Russia, and said that it’s a sensible policy to go where we get the best deal in the interest of the Indian citizens.
The minister expressed “concern” over the “stability and affordability of energy markets” due to energy caps on Russian energy imposed by the West.
“We don’t ask our companies to buy Russian oil, we ask them to buy what’s the best option they get. It depends on the market, it’s a sensible policy to go where we get the best deal in the interest of the Indian people,” Jaishankar said while addressing the Rajya Sabha on the first day of the winter session of Parliament.
The war in Ukraine which started in February has had a significant impact on global food security and has led to a sudden increase in crude prices following western sanctions on Moscow.
During his assessment of global oil prices, Jaishankar has been saying that oil and gas prices are unreasonably high throughout the world.
According to him, Europe was buying more oil from the Middle East countries which were Asia’s traditional suppliers, however, now it was diverted to Europe.
Earlier in November, during a joint press conference along with Russian Foreign Minister Sergey Lavrov in Moscow Jaishankar said that India’s relationship with Russia has worked to its advantage and New Delhi would like to keep that going. He reaffirmed strong ties with Moscow, describing the country as a steady and time-tested partner.
India has been reiterating time and again that its oil imports will be determined by its national interest and its large consumer base.