Should we shut down our economy? Indian envoy’s retort regarding the Russian oil issue

India’s High Commissioner to the UK said that New Delhi cannot shut down its economy over geopolitical concerns, despite Western pressure to stop oil imports from Russia due to its conflict with Ukraine.

India, the third-largest importer and consumer of oil in the world, imports 80% of its energy needs, according to Vikram Doraiswami in an interview with Times Radio.

“More than 80 percent of our energy demands are imported. How would you like us to proceed? In response to a query on Western criticism of India’s relations with Russia, he answered, “Switch off our economy?”

Russia was subject to a number of Western sanctions following its 2022 invasion of Ukraine. To boost its economy, Russia began to supply crude oil at lower prices. To the dismay of the West, high-oil-consuming countries like India seized the opportunity.

Currently, between 40 and 45 percent of India’s energy needs are satisfied by oil imports from Russia. India imported more crude oil from Russia last month than it had in almost a year.

The United States has issued harsh tariff warnings to nations that import oil from Russia in recent weeks. The US’s attempt to engage Russia in negotiations to resolve the conflict with Ukraine is interpreted as the flexing of its muscles.

ON INDIA-RUSSIA TIES

In response to questions over India’s closeness to Russia, Doraiswami criticized the West for its hypocrisy while emphasizing that the relationship was founded on a variety of criteria.

“One of these is our long-standing security relationship that goes back to an era in which some of our Western partners wouldn’t sell us weapons but would sell them to countries in our neighbourhood that use them only to attack us,” he stated.

Accusing several European nations of hypocrisy, Doraiswami flagged that these nations were continuing to buy rare earth and other energy products from the same countries they were “refusing to let us buy from”.

The Indian envoy’s line of attack is similar to how External Affairs Minister S Jaishankar has defended India’s oil imports with Russia at various global forums.

Last year, Jaishankar had slammed Europe’s “selective approach” and wondered why it itself had not severed its businesses with Russia. He underscored that India wouldn’t pay higher prices (for oil) just to make Europe happy.