External Affairs Minister S. Jaishankar restated that India will act only in its national interest, even when others disagree. He said that if the United States or European countries do not like Russian oil, they should avoid buying petrochemical products from India that come from refining Russian crude. “America and Europe buy oil and refined products from India, if you don’t like it, don’t buy it,” he said, making India’s position plain. 

Speaking at the Economic Times World Leadership Forum, he defended India’s continued imports of Russian crude and admitted that trade talks with the United States are stuck on key issues. He said the decision to buy oil from Russia serves India and also helps global stability. “At the end of it all, we make decisions that are in national interest,” he said, adding that energy security is essential for a growing economy like India.

Taking on criticism from Western countries, he said India should not be singled out. “It is presented as an oil issue, but it’s still not applied to the largest importer, China. Arguments used to target India have not been applied to China,” he pointed out.

He also gave a blunt answer to those questioning India’s stand. “If you don’t like it, don’t buy it. But Europe buys, America buys. If you don’t like it, don’t buy from us,” he remarked.

Jaishankar reminded the audience that when prices surged in 2022, many countries accepted India’s Russian purchases because they helped keep prices in check. “That time, people said if India wants to buy Russian oil, let them, because it would stabilise prices,” he recalled.

Responding to the American allegation that India is making profits by selling petrochemical products refined from Russian oil, he called the charge ironic. He said “it was funny that a pro-business administration is accusing India of doing business.”

Why India Buys Russian Oil

Explaining India’s position, Jaishankar said purchases from Russia support India’s needs and help keep international prices stable. “Yes, it is in our national interest, but it is also in global interest,” he said.

He recently visited Russia for annual bilateral talks where they discussed expanding trade. At the same time, he repeated India’s clear stand on the conflict. “We desire an early cessation of hostilities,” he said, showing that India wants peace while also managing its energy needs.

US–India Trade Talks: Stuck but Ongoing

On trade with the United States, Jaishankar said negotiations hit a roadblock after the Trump administration asked for more concessions from India. He admitted progress is slow but confirmed that talks continue. “Right now, there are issues; it is pretty open, but it’s not like we never had issues before. Other parts of the relationship are strong,” he said.

The Trump administration has imposed a 25% tariff on Indian goods to the US, effective August 7, and another 25% on India’s crude oil trade with Russia is expected to take effect on August 27. These measures are documented in official briefings and expert notes.

Jaishankar added that India is ready to talk but will not cross its red lines. “We are committed to protecting the interests of farmers and small businesses,” he explained, stressing that these protections guide India’s stance.

India–US Relations Go Beyond Trade

Despite differences, Jaishankar described India–US ties as broadly positive. “We are two big countries; we need to have conversations, and we will see how it goes,” he said. He noted that every US administration has its own style. “President Trump’s style is unconventional. Earlier, under President Obama, there was even a proposal for a ‘G2’ arrangement with China,” he said, reminding that diplomatic approaches shift over time. (Analysts have long debated the “G2” idea from that era.)

Even with tensions on tariffs and oil, Jaishankar assured that both sides remain engaged. “Communication channels are open,” he added, noting that coordination continues in other areas even when there are differences on trade and energy policy.