'Don't like Indian oil exports? Then don't buy it': Jaishankar to US
Jaishankar defended India's continued purchase of discounted Russian crude oil, calling it a move aligned with both national and global interests
- Aug 24, 2025,
- Updated Aug 24, 2025 7:24 AM IST
External Affairs Minister S Jaishankar on Saturday hit back at U.S. allegations that India is profiteering from Russian crude, stating bluntly, "If you have a problem buying oil or refined products from India, don’t buy it."
Speaking at the Economic Times World Leaders Forum, Jaishankar defended India's continued purchase of discounted Russian crude oil, calling it a move aligned with both national and global interests. "We are buying [Russian] oil to stabilise the oil market. Yes, it is in our national interest. We have never pretended otherwise, but we also say it is in global interest," he said.
His remarks came days after White House Trade Adviser Peter Navarro accused India of running a "profiteering scheme" by importing discounted Russian crude and exporting refined products at premium rates. Jaishankar responded bluntly to the allegations: "It's funny to have people who work for a pro-business American administration accusing other people of doing business."
Jaishankar underscored that India’s decisions are rooted in strategic autonomy. "That's our right. In my business, we would say that's what strategic autonomy is about," he stated.
India significantly increased its oil imports from Russia following Western sanctions on Moscow after the Ukraine invasion in 2022. Russia’s share in India’s oil imports surged from 1.7 percent in 2019–20 to 35.1 percent in 2024–25, making it India's top crude supplier.
He also challenged the inconsistency in global responses, questioning why similar scrutiny hasn't been applied to other major buyers. "The same arguments that have been used to target India have not been applied to the largest oil importer, which is China. [It] has not been applied to the largest LNG importer, which is the European Union," he said.
Jaishankar pointed to prior U.S. understanding during earlier administrations, noting, "There were a series of very explicit conversations, saying, we have no issues with your buying." He cited the G7 oil price cap as tacit acknowledgment of ongoing trade with Russia. "The fact that you devised the price cap meant that you accept that there's an oil trade going on with Russia. Otherwise. you wouldn't need a price cap."
As for critics in the U.S. and Europe, Jaishankar made his position clear: "Europe buys, America buys, so you don't like it, don't buy it. Nobody forces you to buy it."
External Affairs Minister S Jaishankar on Saturday hit back at U.S. allegations that India is profiteering from Russian crude, stating bluntly, "If you have a problem buying oil or refined products from India, don’t buy it."
Speaking at the Economic Times World Leaders Forum, Jaishankar defended India's continued purchase of discounted Russian crude oil, calling it a move aligned with both national and global interests. "We are buying [Russian] oil to stabilise the oil market. Yes, it is in our national interest. We have never pretended otherwise, but we also say it is in global interest," he said.
His remarks came days after White House Trade Adviser Peter Navarro accused India of running a "profiteering scheme" by importing discounted Russian crude and exporting refined products at premium rates. Jaishankar responded bluntly to the allegations: "It's funny to have people who work for a pro-business American administration accusing other people of doing business."
Jaishankar underscored that India’s decisions are rooted in strategic autonomy. "That's our right. In my business, we would say that's what strategic autonomy is about," he stated.
India significantly increased its oil imports from Russia following Western sanctions on Moscow after the Ukraine invasion in 2022. Russia’s share in India’s oil imports surged from 1.7 percent in 2019–20 to 35.1 percent in 2024–25, making it India's top crude supplier.
He also challenged the inconsistency in global responses, questioning why similar scrutiny hasn't been applied to other major buyers. "The same arguments that have been used to target India have not been applied to the largest oil importer, which is China. [It] has not been applied to the largest LNG importer, which is the European Union," he said.
Jaishankar pointed to prior U.S. understanding during earlier administrations, noting, "There were a series of very explicit conversations, saying, we have no issues with your buying." He cited the G7 oil price cap as tacit acknowledgment of ongoing trade with Russia. "The fact that you devised the price cap meant that you accept that there's an oil trade going on with Russia. Otherwise. you wouldn't need a price cap."
As for critics in the U.S. and Europe, Jaishankar made his position clear: "Europe buys, America buys, so you don't like it, don't buy it. Nobody forces you to buy it."