Speaking at an event in Kultaranta, Finland, on Thursday, Jaishankar defended India’s decision to source oil from Russia amid Western sanctions, saying the move was driven by market realities rather than politics.
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“At that time, the US specifically asked India to buy Russian oil to stabilize the oil market,” Jaishankar said. “I buy oil based on cost and availability.”
India emerged as a major buyer of Russian crude after Washington and its allies imposed sanctions on Moscow following its invasion of Ukraine in 2022 and introduced a price cap on Russian oil.
Explaining the circumstances that shaped India’s energy imports, Jaishankar said traditional supply patterns had been disrupted as European countries turned to alternative sources.
“At that point of time, much of the oil available in the market was from Russia because Europeans were buying up the Middle East oil, which was our traditional supplier,” he said. “Circumstances pushed us in a certain direction.”
Also read: In new crude world order, US is largest exporter of crudeJaishankar also took aim at what he described as the inconsistent approach towards sanctions on Russian oil, rejecting suggestions that India’s purchases raised broader ethical concerns.
“Let’s not pretend there’s some great principle involved here,” he said. “I don’t think making this about sanctimony is really warranted.”