EU's Threats Over India's Russian Oil Purchase Met with Firm Response from Foreign Minister Jaishankar

S Jaishankar, India's External Affairs Minister, has given a strong response to EU Foreign policy chief Josep Borrell's call for action against India for purchasing refined oil products from Russia. Jaishankar urged Borrell to take a look at the EU Council regulations, which state that Russian crude is transformed significantly in a third country and is no longer treated as Russian.

 

He also advised Borrell to refer to Council's Regulation 833/2014. Borrell had earlier suggested that the EU should take action against India for reselling Russian oil as refined fuels, including diesel, to Europe, amid tightening sanctions on Moscow's energy sector by Western nations.

 

According to the EU's Foreign policy chief Borrell, it is customary for India to purchase Russian oil. However, he expressed the need for the European Union (EU) to take action regarding the refined products derived from Indian-made Russian crude.

 

Borrell made these remarks during an interview, and although he met with Jaishankar during the trade technology talks in Brussels, he did not attend the subsequent press conference.

 

EU Executive Vice President on Competition, Margrethe Vestager, expressed her firm belief in the legality of the sanctions, leaving no room for doubt. She emphasized the intention of the EU and India to engage in discussions as friendly parties, extending a helping hand rather than adopting an accusatory stance.

 

During his recent three-nation visit to Bangladesh, Sweden, and Belgium, Foreign Minister Jaishankar was joined by Commerce Minister Piyush Goyal and Union Minister Rajeev Chandrasekhar. In Brussels, they held a meeting where Jaishankar reiterated India's support for its imports from Russia. He indirectly expressed disapproval of the West's attempts to pressure India into reducing trade with Russia due to its military involvement in Ukraine.

 

He pondered how Europe could prioritize its own energy requirements while simultaneously requesting India to take a different course of action. During a joint press conference with the German Foreign Minister Annalena Baerbock in December, the External Affairs Minister expressed that the trade between India and Russia is relatively small, amounting to around USD 12-13 billion, in contrast to the trade volumes of European countries.

 

Additionally, he mentioned that India has provided Russia with a range of products, emphasizing that this should not be misconstrued, but rather viewed as a natural aspiration of any trading nation to enhance its trade relations.

 

"I strongly encourage you to examine these statistics. There exists a platform called the "Russia Fossil Fuel Tracker," which provides detailed information on the import and export activities of various countries. I believe this resource could be immensely beneficial," he suggested.

 

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