INDIA on Thursday said it is “broad-basing and diversifying” its sourcing of energy to meet market conditions, hours after US President Donald Trump claimed that Prime Minister Narendra Modi assured him that New Delhi will stop procuring Russian crude oil. External Affairs Ministry spokesperson Randhir Jaiswal, responding to Trump’s remarks, said it has been New Delhi’s consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. He said India’s import policies are guided entirely by national interest, adding India has been looking at expanding energy ties with the US as well. “Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy,” he said.

 

“This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions,” Jaiswal added. India’s continuing purchase of petroleum products from Russia notwithstanding Western sanctions have become a major issue that resulted in severe downturn in ties between New Delhi and Washington. In Washington, Trump told reporters that “he (Modi) has assured me there will be no oil purchases from Russia.” The US President said India may not be able to cut the procurement immediately but the process has started. “It (process) has started. He can’t do it immediately. It’s a little bit of a process, but the process is going to be over soon,” the US President said. In his remarks, Jaiswal noted that India is holding talks with the Trump administration on boosting bilateral energy ties. “Where the US is concerned, we have for many years sought to expand our energy procurement. This has steadily progressed in the last decade,” he said.

 

“The current administration has shown interest in deepening energy cooperation with India. Discussions are ongoing,” he added. Explaining India’s policy on energy procurement, Jaiswal said it is driven by national interest. “India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario,” he said. “Our import policies are guided entirely by this objective,” he said. United States (US) President Donald Trump has claimed that his “friend” Prime Minister Narendra Modi has assured him that India would stop purchasing oil from Russia, a move he described as a “big step” toward increasing pressure on Moscow over its invasion of Ukraine. India’s continuing purchase of petroleum products from Russia, notwithstanding Western sanctions, has become a major issue that resulted in a severe downturn in ties between New Delhi and Washington. Speaking to reporters at his Oval Office on Wednesday, Trump said the US was “not happy” that India was buying Russian crude, arguing such purchases helped Finance President Vladimir Putin’s war. It is based on India’s national interest: Russia on its energy ties with New Delhi: RUSSIAN crude oil remains the most cost effective option on the global market and Russia’s energy ties with India are in tune with New Delhi’s national interests, Russian Ambassador Denis Alipov said on Thursday.

 

“Russian energy remains the most cost-effective option on the global market, and Russia has consistently honoured its commitments while showing flexibility in developing alternative logistics and payment systems in the face of attempts to disrupt this cooperation,” he said. In his address at an event, Alipov also said that Russian crude oil accounts for around one-third of India’s total hydrocarbon imports. The Russian Ambassador also described Russia as India’s “most reliable energy partner” and said there is scope for enhancing the overall ties, including in areas of defence, trade, connectivity and technology. Alipov said the India-Russia strategic partnership is a “stabilising force” in global affairs and a powerful driver of economic growth”. “This kind of relationship is in increasing demand worldwide as we collectively navigate an era of unprecedented geopolitical turbulence,” he said. Later, Alipov, while responding to a question on Trump’s remarks and if India will continue to procure Russian crude oil, said: “this is a question for the Indian Government (to answer).” The Indian Government is dealing with the matter having in mind the national interests of this country in the first place, he said. “Our cooperation in the energy sector is very much in tune of those interests,” he said. In response to the US President’s comments, India said it is “broad-basing and diversifying” its sourcing of energy to meet market conditions.

 

 

INDIA on Thursday rejected claims made by the US President Donald Trump of having a telephonic conversation with Prime Minister Narendra Modi. Trump on Wednesday had claimed that, during a telephonic conversation, PM Modi has ‘assured’ him that India won’t be buying oil from Russia. When asked whether there was a conversation between PM Modi and the US President, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal responded during a weekly media briefing: “Regarding the comment from the US on energy issue, we have already issued a statement, which you can refer to. As for the telephonic conversation, I can say that there has been no discussion between the Prime Minister and President Trump”. During a press conference at the White House on Wednesday, Trump described PM Modi as a “great man” and India as “an incredible country”, adding that he is open to meeting the Prime Minister on the sidelines of the upcoming ASEAN Summit in Malaysia. When asked about a potential meeting with the Prime Minister in Malaysia during a press conference at the White House, Trump said, “Yeah, sure, he’s a friend of mine. We have a great relationship.” “He’s a great man. He loves Trump…I have watched India for years. It’s an incredible country, and every single year you’d have a new leader. I mean, some would be in there for a few months, and this was year after year after year. And my friend has been there now for a long time,” he added. He even mentioned that PM Modi had “assured” that India won’t be buying oil from Russia. He said, “He assured me today that they will not be buying oil from Russia…You can’t do it immediately. It’s a little bit of a process, but the process is going to be over with soon, and all we want from President Putin…is to stop this.” He added that if India doesn’t buy Russian oil, it makes it “much easier” to end the conflict. “Within a short period of time, they will not be buying oil from Russia, and they’ll go back to Russia after the war’s over,” he emphasised.