The United States has said in a statement that India’s intention to buy cheap oil from Russia would not violate the terms of a financial embargo imposed on Vladimir Putin’s country, but it would support the military strike on Ukraine. The clear message from the central government was on Friday, India should not politicize fuel purchases legally.
Countries that are self-sufficient in oil supplies and who are still buying it from Russia will not be credible if they argue for a rush to import. The demands of the concerned quarters are pointing towards America and Europe. America will be able to meet its own energy needs. And during the Russia-Ukraine war, European countries are importing crude oil from Moscow.
Meanwhile, in the midst of this tug-of-war, Iran has sent a message to India to export oil. Ali Chegni, Iran’s ambassador to Iran, said talks were underway with countries concerned to lift sanctions against them. As a result, Tehran is ready to supply fuel to India as required. When Donald Trump was president, the United States imposed sanctions on Iran for allegedly violating the nuclear deal. Before that, it was the second-largest oil supplier in India.
Three weeks have passed since the war. Western sanctions on Russia for conducting military operations in Ukraine pushed oil prices to 139 dollars in world markets. The main reason for this is that Russia, being one of the major exporters of energy, is in danger of hitting the supply in the international market. Brent crude was trading at $106 dollar on Friday evening.
