Jaishankar Says U.S. Asked India to Buy Russian Oil in 2022, Later Urged Cuts and Imposed Tariffs

Indian Foreign Minister S Jaishankar said on Friday that the United States specifically asked India in 2022 to buy Russian oil to stabilize the market after sanctions were imposed on Moscow. Jaishankar spoke at an event in Finland. He said circumstances pushed India toward Russian crude and that price and availability determine India's purchases.

"At that time, the US specifically asked India to buy Russian oil to stabilise the oil market," Jaishankar stated. "Circumstances pushed us in a certain direction," he added. "Let's not pretend there's some great principle involved here.

I don't think making this about sanctimony is really warranted," the minister said. U.S. and EU imposed sanctions on Moscow following the invasion of Ukraine.

Four years later, Russia is India's single-largest oil supplier. U.S. lifted sanctions on Russian oil this year after the Iran war pushed prices above $100 per barrel in April.

U.S. Had insisted that India reduce purchases of Russian crude and had previously imposed tariffs on India for those purchases. Indian refiners have secured crude supply at least through August by increasing purchases from the United Arab Emirates, Africa, and Brazil. India is also buying growing volumes from Nigeria, Angola, Venezuela, and Brazil.

India is now the key importer of currently de-sanctioned Russian crude on water. Russia has remained India's top crude supplier in the past two months.

U.S. Sanctions policy toward Indian purchases of Russian oil.