‘US wanted India to buy Russian oil’: Jaishankar slams tariff flip-flop

Foreign Minister S Jaishankar has taken a swipe at the Trump administration over its flip-flop on imposing punitive tariffs on India for New Delhi’s purchase of Russian oil and then wavering on the levies, stating that it was the US which asked India to buy Russian oil after the invasion of Ukraine to keep global oil prices low.

‘US urged India to buy Russian oil’

"At that time, the US specifically asked India to buy Russian oil to stabilise the oil market," said Jaishankar at an event in Finland's Kultaranta, reported NDTV.

He made the remarks in response to a journalist’s comment accusing India of being "too sympathetic to Russia" and "too willing to buy oil from Russia".

Also Read: India continued buying Russian oil despite US sanctions: Govt

Pointing out that India’s purchase of Russian oil was a decision taken due to circumstances, Jaishankar said that India had to make the move as European countries were buying all the oil from the Middle East, which has been India’s “traditional” oil supplier.

"At that point in time, much of the oil available in the market was from Russia because Europeans were essentially buying up the Middle East oil, which was our traditional supplier. Circumstances pushed us in a certain direction,” he added.

‘No great principle involved’

Jaishankar criticised the US over its contradictory stand on imposing and then lifting sanctions over the purchase of Russian oil and urged against going overboard in attaching moral significance to it, as he described Russia as a “steady supplier.”

Also Read: Would like to end sanction waivers on Russian oil: US

"Right now, if you see, after having first put tariffs on us for buying Russian oil, the US then again lifted its sanctions... Let's not pretend there's some great principle involved here. I don't think making this about sanctimony is really warranted," said Jaishankar.

Dig at Europe

He also lashed out at European countries over their "moral ambiguity" regarding current international developments.

"No European country has been attacked with Indian weapons. I wish I could say that for Europe weapons vis-à-vis India," said Jaishankar.

"Europe sells weapons, which are used to attack India. Not just now but for many years. We Indians have never done anything to endanger Europe. I think that's a reasonable point,” he added.

Tariffs and policy shifts

Trade ties between India and the US came under pressure last year after the Trump administration imposed 50 per cent tariffs on Indian exports, including a 25 per cent levy tied to New Delhi's imports of Russian oil.

Also Read: US extends sanctions waiver for Russian oil already at sea

The duties were later reduced to 18 per cent under an interim trade framework agreed by the two countries and subsequently brought down to 10 per cent following a US Supreme Court ruling striking down the global tariffs.

Iran was repercussions

After conflict erupted in Iran, Washington eased sanctions on Russian seaborne crude for energy-dependent nations to help contain oil price volatility. India, however, maintained that its purchases from Russia were guided by commercial and energy security considerations, irrespective of US policy changes.

Also Read: Indian refiners buy Russian oil from tankers stranded at sea

"Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing from Russia earlier... before waiver also, during waiver also, and now also," said Sujata Sharma, joint secretary in the petroleum ministry, last month.