India not violating sanctions, but Russian oil deal may put it on ‘wrong side of history’: US
Amid rising tensions between Russia and the West, the United States has said that India’s buying of discounted Russian crude would not violate sanctions, but such a decision could put New Delhi on the wrong side of history.
Asked about reports of India considering a Russian offer to buy crude and other commodities at subsidized prices a week after the US banned all Russian energy imports, White House Press Secretary Jen Psaki said. That the message of the Joe Biden administration is for countries to follow. US sanctions.
“I don’t think it would be a violation of it, but also think about where you want to stand,” Saki said. “When the history books are written at this time, support for Russia – the Russian leadership – is support for an invasion that is clearly having devastating effects.”
According to Reuters, India is planning to buy subsidized crude oil and related commodities from Russia with payments through rupee-ruble transactions amid tight sanctions from the US. In particular, the Russian economy is impacting its oil-gas exports amid the Russo-Ukraine war and sanctions imposed by the West, Europe against Moscow.
The Russian economy is facing the worst situation since 1991. Moscow has urged India to increase its investment following sanctions on its oil-gas exports.
Russia’s Deputy Prime Minister Alexander Novak had earlier said in a statement that Moscow’s oil and petroleum products exports to India have reached $1 billion and there are opportunities to increase it further.
Meanwhile, Union Petroleum Minister Hardeep Singh Puri informed the Rajya Sabha on Monday that the government is exploring an alternative market for fuel procurement amid the Russia-Ukraine conflict.
Read more: India may consider buying crude oil from Russia at subsidized rates: Reports