External Affairs Minister Subrahmanyam Jaishankar says India's efforts aim to stabilize situation in global energy markets
In response to the US threats to impose higher tariffs on India, External Affairs Minister Subrahmanyam Jaishankar said Thursday that China, not his country, is actually the biggest buyer of Russian oil.
Speaking at a news conference in Moscow following a meeting with Russian Foreign Minister Sergey Lavrov, Jaishankar said his country’s efforts are aimed at stabilizing the global energy markets.
“Incidentally, India also buys oil from the United States,” he added.
The US threatened to impose retaliatory tariffs on Indian exports like shrimp and basmati rice as it claims India's digital services tax discriminates against American tech companies. This threat is currently on hold as both countries work on a global OECD agreement to establish a new, fairer international tax system.
On Aug. 7, one day after the US announced tariffs on India for its purchase of Russian fuel, Indian state-owned refineries temporarily paused buying Russian oil. The purchases resumed shortly thereafter, with several state-run companies securing supplies from Russia for delivery in September.
