Trump claimed that PM Modi has assured him that India will stop buying Russian oil, while India denied this claim. Know why Trump compared India with Hungary and what is the real energy policy of India.
India Russian Oil Imports: Former US President Donald Trump recently made a big claim that Prime Minister Narendra Modi had assured him that India would stop buying Russian oil. According to Trump, this process will not happen immediately, but will be completed soon. Trump compared India with Hungary, saying India has maritime options, while Hungary is dependent on pipelines and is therefore “trapped”.
However, India immediately rejected this claim. The Ministry of External Affairs (MEA) clarified that no such conversation took place between the Prime Minister and Trump. India confirmed that its energy policy should be based on market and national interests.
Will India really stop Russian oil?
“India will no longer buy Russian oil,” Trump said at a press conference with Ukrainian President Volodymyr Zelensky. This statement not only created a stir in US-India relations, but also raised the question why there is such a difference in the stance of India and Hungary.
India vs Hungary: Why the difference?
Trump compared Hungary with India, saying that Hungary is dependent on the Druzhba pipeline and being an inland country, there is no alternative route. India is a major marine oil importer and hence has the flexibility to buy oil from different countries. This is the reason why America considers India more flexible.
Why is Russian oil beneficial for India?
Russia is currently India’s largest crude oil supplier. About one-third of India’s total imports come from Russia. Russian oil available at discounted prices is a cheap and beneficial deal for India, which keeps both the country’s energy security and economy strong.
What is the real energy policy of India?
“India’s energy policy is focused on two goals – stable prices and secure supply,” MEA spokesperson Randhir Jaiswal said. India said it decides its energy needs according to market conditions and national interests. India is Russia’s largest crude oil customer and about one-third of total imports come from Russia. Subsidized prices and reliable supplies are a win-win for India.
Why is Russian oil important for India?
India wants reliable and affordable options at any time to meet the energy needs of its population of 1.4 billion and rapidly growing economy. Cheap oil coming from Russia is important for India’s energy security and economic stability.
Trump’s statement: Politics or pressure strategy?
According to analysts, Trump’s statement is part of America’s strategy to increase pressure in the global energy market. After the Ukraine war, America is continuously putting pressure on its allies to reduce their oil dependence on Russia. The dispute over oil between India and Trump is currently at the center of politics and media. While Trump’s claims remained forceful, India has maintained clarity on its energy policy. This story shows that India is completely independent in its energy security and market based decisions.