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Jaishankar: India probably buys less oil from Russia in a month that what Europe does in an an afternoon

Given India's pivotal role in the Biden administration's Indo-Pacific strategy and its attempts to curtail China's influence, Washington has generally been supportive of New Delhi despite its neutrality on the Russian invasion of Ukraine and its oil purchases from Mosсow

Jaishankar: India probably buys less oil from Russia in a month that what Europe does in an an afternoon

New Delhi, April 13 - Neftegaz.RU. India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, Indian External Affairs Minister S Jaishankar has said.
He was addressing a joint news conference with the U.S. Secretary of State Antony Blinken.

Jaishankar stated, when asked about India's oil purchase from Russia:
  • I noticed you refer to oil purchases, if you are looking at energy purchases from Russia, I would suggest that your attention should be focused on Europe
  • We do buy some energy, which is necessary for our energy security, but I suspect looking at the figures, probably our total purchases for the month would be less than what Europe does in an afternoon
Jaishankar said India has made a number of statements (on the Russia-Ukraine conflict) which outline its position in the United Nations, in the Indian Parliament, and in other forums.
He asserted:
  • And briefly, what those positions state is that we are against the conflict
  • We are for dialogue and diplomacy, we are for urgent cessation of violence, and we are prepared to contribute in whatever way to these objectives
The White House too came to India's defence on the issue of oil purchase noting that its total purchase is less than 1 to 2 % as against 10 % from the United States.
Jaishankar told reporters that now there is an expanding India-US energy relationship that didn't exist some years ago.
He said:
  • The United States is the 2nd-largest LNG supplier to India and the 4th or 5th-largest crude oil supplier
  • A big partner in the renewables side
Echoing Jaishankar, Blinken said the US energy exports to India now total about $11 billion a year.
He said:
  • The most effective way to satisfy this growth... is of course to honour the climate goals, the ambitious climate goals that India has set, including particularly the expansion of renewables
  • There's a longstanding strategic clean energy partnership that is co-led by the Department of Energy, the Ministry of Petroleum & Natural Gas in India
  • That is deepening cooperation on energy efficiency and next-generation fuels
  • We've got a working group on climate that's partnering on green shipping corridors and on green technology
Blinken said the State Department's Energy Bureau has done a lot of work including collaborative studies with Indian researchers on the most economical decarbonization pathways.
He stated:
  • Our Development Finance Corporation just announced a $500 million loan to 1st Solar, which will produce solar panel modules in Southern India, furthering climate goals, diversifying the solar supply chain
  • We are working both to deal with the impact of the Russian aggression on energy, but much more broadly with this combination of helping India meet its energy needs while advancing together the vital climate agenda that we share

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