S Jaishankar defends India's purchase of Russian oil in response to EU's propose
2 min read 17 May 2023, 07:31 AM ISTThe statement follows the earlier remarks by the EU's chief diplomat, suggesting that the EU should take measures to restrict India's resale of Russian oil as refined fuels, including diesel, into Europe.
PremiumIn response to EU Foreign Policy Chief Josep Borrell's comments urging action against Indian refined products derived from Russian crude, External Affairs Minister S Jaishankar suggested that he should examine the regulations of the EU Council.
"Look at EU Council regulations, Russian crude is substantially transformed in the third country and not treated as Russian anymore. I would urge you to look at Council's Regulation 833/2014," said Jaishankar.
The statement follows the earlier remarks by the EU's chief diplomat, suggesting that the EU should take measures to restrict India's resale of Russian oil as refined fuels, including diesel, into Europe. This proposal arises as Western countries tighten sanctions on Russia's energy industry.
"India buys Russian oil, it's normal... " said EU's Foreign policy chief Borrell but wants the bloc to act on refined products coming from India-made Russian crude in an interview with Financial Times.
Although Borrell had a meeting with Jaishankar during the trade technology talks in Brussels, he was not in attendance at the subsequent press conference.
In his place, EU Executive Vice President on Competition, Margrethe Vestager said that there was "no doubt about the legal basis of the sanctions", and that the EU and India would have the discussion as "friends... with an extended hand and of course, not a pointed finger."
In addition to Jaishankar, the meeting included Commerce Minister Piyush Goyal and Union Minister of State for Entrepreneurship, Skill Development, Electronics, and Technology Rajeev Chandrasekhar.
On Monday, Jaishankar arrived in Brussels, marking the final leg of his three-nation visit, which included Bangladesh, Sweden, and Belgium.
Previously, Jaishankar had expressed support for India's imports from Russia while indirectly addressing criticism towards the West for pressuring New Delhi to reduce its trade with Russia due to the ongoing military situation in Ukraine.
"Our trade with Russia is at a very small level- USD 12-13 billion, in comparison to European countries. We've also given the Russians a set of products... I don't think people should read more into it other than the legitimate expectations of any trading country to increase its trade," the EAM said earlier in December while addressing a joint press conference with his German counterpart Annalena Baerbock.
"I would urge you to look at these figures. There is a website called 'Russia Fossil Fuel Tracker' that would give you country-by-country data of who is really importing what and I suspect that might be very very helpful," he added.
(With inputs from ANI)
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
