The United States of America warned that India should hold back from increasing its oil imports from Russia as the trade could endanger New Delhi and pose a “great risk.”
Although the senior official did not spell out what these “risks” imply, reports said there is a chance the United States is looking to impose sanctions on nations who wish to increase their oil imports from Russia. According to reports, the United States seemingly has no objection to India purchasing oil from Russia at a discounted price, as it has in previous years.
However, the US cautioned India that there should not be a sharp rise in imports.
“We continue to engage our partners in India and around the world on the importance of strong collective action, including strong sanctions, to press the Kremlin to end its devastating war of choice against Ukraine as soon as possible,” said a spokesperson from the US state department.
New Delhi’s plan to explore a rupee-rouble payment scheme that will bypass the present sanctions is not a concern for the authorities in the United States. A source quoted by Reuters said the purchases India makes with Russia should be in compliance with the US sanctions or the nation faces a great risk.
As long as they are compliant with sanctions and do not significantly raise purchases, we are okay, “said the source. Both of India’s quad partners, the United States and Australia, are rather disapproving of the trade ties between India and Russia.
“Now is the time to stand on the right side of history, and to stand with the United States and dozens of other countries, standing up for freedom, democracy, and sovereignty with the Ukrainian people, and not funding, fuelling, and aiding President Putin’s war,” said the US commerce secretary, Gina Raimondo.
Dan Tehan, the Australian trade minister, said democratic nations should work with each other “to keep the rules-based approach”. As a consequence of Russian President Vladimir Putin’s authorising a military operation in Ukraine, Russia faced unparalleled sanctions that were aimed to isolate the superpower on a global platform and weaken its economy.
While India is not the sole nation that buys Russian energy sources, as many European allies have continued to do so as well, the decision disputes Biden’s attempts to isolate Russia. India is the world’s third-largest importer and consumer of oil.
The country has purchased nearly 13 million barrels of oil from Russia since February 24, compared to approximately 16 million barrels in 2021.
Published by – Kiruthiga K
Edited by – Kritika Kashyap
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