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Home Opinion & Editorial Editorial

India buying Russian oil

Editorial by Editorial
March 19, 2022

The Ukraine war has strained the relations between India and United Sates. The Biden administration seems to be in a tight rope over New Delhi’s refusal to join the US and allies in condemning Russia and attempts to isolate President Putin.

The US has now warned India not be proceed with plans to purchase discounted crude oil from Russia, saying the move would be seen as supporting the military offensive in Ukraine. The US has banned all energy imports from Russia and has imposed sanctions on the oil and gas sector. US authorities are however unsure whether the purchases by India would be a violation of these sanctions.

India remains defiant and has defended the continued buying of Russian oil, saying European countries are still purchasing gas from Moscow. Indian refineries have stocked themselves and have purchased several million barrels of Russian oil at discounted prices. India is the world’s third largest consumer of crude and relies almost 80 percent on imports for its needs but Russia provides a marginal one percent.

India has historically had close ties with Russia which was demonstrated when it avoided Western pressure and abstained from voting thrice at the UN Security Council. Now Russia wants India to increase oil exports which has touched S1 billion. There is indication that India will continue to keep trade with Russia open.

US, Britain and European countries are urging India to avoid buying Russia oil and gas but haven’t stated the consequences for violating sanctions. White House spokesperson said she doesn’t believe that the purchases violates US sanctions. This statement shows the dual standards of Western countries in dealing with India.

While India has deepened ties with the US since the past two decades, it has also relied on Russia for military assistance. It also views Russia as bulwark against regional dominance from China. President Biden made his frustration known in the early days of the Ukraine conflict but a realignment has not yet been worked out.

The West needs to condemn India for its closeness with Russia over maintain a distance. In such a situation, Pakistan has an opportunity to seek greater approachment with both sides. It also has a chance to purchase oil at discounted rates from Russia despite the sanctions.

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