New Delhi, Feb 20 (UNI) India today said that it will consider purchasing oil from Venezuela if it is “commercially viable”, while stating that its earlier stance on purchase of Russian oil stands.
The Ministry of External Affairs spokesperson Randhir Jaiswal, answering a question on decline in India’s purchase of Russian crude, said:
“On the question of both Russian oil and on Venezuela oil we have issued statements. We have made our position very clear.
“On Venezuela we had said that if it is commercially viable then we can explore buying oil from Venezuela.”
He also said that Foreign Secretary Vikram Misri had made India’s position very clear on the subject on Feb 9, when he said that India’s “foremost priority is to safeguard the interests of Indian consumers insofar as energy is concerned, and to ensure that they receive adequate energy at the right price and through reliable and secure supplies”.
The FS had said that the key drivers of India’s energy policy are “adequate availability, fair pricing, and reliability of supply”, and that India is neither dependent on any single source and does not intend to be. “Our approach is to maintain multiple sources of supply and diversify them as appropriate to ensure stability”, and that “at the end of the day, national interests will be the guiding factor for us in our choices”.
The Indian government’s statement comes as the US Ambassador Sergio Gor said earlier in the day that India “has made a commitment regarding Russian oil purchases as part of a trade deal with the US, which has led to New Delhi diversifying its energy sourcing”.
“On the oil, there’s an agreement. I also don’t want to be giving out too much, in the sense that what private conversations happened…between the two leaders. We have seen India diversify its oil. There is a commitment,” Gor told the media on the margins of the AI Impact Summit.
“This is not about India. The US doesn’t want anyone buying Russia. The President has been very clear on this – he wants to end this war (Ukraine conflict). So anyone who is, in a way, still involved with that conflict is something that the President wants to see come to an end in hopes of peace coming with that,” Gor said.
The US Ambassador said that officials from India and the US are continuing negotiations to finalise the interim trade agreement so that it can be inked. “The signing will happen very soon. Even this week, we have both teams talking to each other and actively getting to a place where both will be able to sign,” he said.
On Wednesday, Russia’s Foreign Ministry said it has “no reason” to believe that India has changed its stance on purchasing Russian crude oil.
Russia’s foreign ministry spokesperson, Maria Zakharova, said, “We have no reason to believe that India has changed its position on buying Russian hydrocarbons. India’s purchase of Russian hydrocarbons benefits both countries and helps maintain stability in the international energy market.”
