26 August 2024 (TDI): Volodymyr Zelenskyy, the president of Ukraine, has encouraged India to stop importing crude oil from Russia, pointing out that this might have a major effect on Moscow’s capacity to carry on with its war in Ukraine.
In a recent discussion with Prime Minister Narendra Modi, Zelenskyy emphasized India’s global power and suggested that India could exert significant pressure on Vladimir Putin’s regime by cutting off Russian oil.
Zelenskyy pointed to the billions of money that were being reinvested in Russia’s war economy through oil exports and said, “You can stop Vladimir Putin, halt his economy, and put him really in his place.”
In response, S Jaishankar, the Indian minister of external affairs, defended India’s oil trading with Russia by pointing out the need of preserving the stability of the world energy market.
Political factors do not influence India’s actions, Jaishankar clarified, pointing out that restrictions on major oil producers have already put a burden on world supply.
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Jaishankar went on to explain that for the sake of the global economy, India, a major oil consumer, needs to give priority to fair and steady oil prices.
As per recent data, India has emerged as the biggest purchaser of Russian oil. In July, the country’s crude intake reached a record 2.07 million barrels per day, with imports accounting for 44% of the total.
