‘Will do what we need to do’: India takes tough stand on EU sanctions over Russian oil; ‘energy security top priority’ – Times of India
NEW DELHI: Ahead of Prime Minister Narendra Modi’s visit to the United Kingdom, foreign secretary Vikram Misri on Tuesday addressed questions about growing Western pressure on India over buying Russian oil. He made it clear that India’s energy needs come first.Misri said, “…We have been very clear that insofar as energy security is concerned, it is the highest priority of the government of India to provide energy security for the people of India, and we will do what we need to do with regard to that.”
He added, “On energy-related issues itself, also, as we have said previously, it is important not to have double standards and to have a clear-eyed perception of what the global situation is insofar as the broader energy market is concerned… We do understand that there is an important and serious security issue that is confronting Europe, but the rest of the world is also there. It is also dealing with issues that are existential for the rest of the world, and I think it’s important to keep balance and perspective when talking about these issues.“His comments came after the European Union imposed a new round of sanctions on Russia over its war in Ukraine. The EU’s latest move includes restrictions on fuels made from Russian crude and lowers the oil price cap. It also targets Rosneft’s Indian joint venture refinery and imposes new banking curbs, all aimed at cutting off Russian income from oil.
EU sanctions on Russian oil: What it means for India?
- The European Union’s latest sanctions are expected to impact countries like India, Turkey, and the UAE, which refine Russian crude and export fuels such as diesel, petrol, and jet fuel to Europe.
- According to GTRI founder Ajay Srivastava, “India’s $5 billion exports of petroleum products to the EU are at risk. The EU’s new sanctions ban imports of refined petroleum made from Russian crude via third countries like India.”
- India’s petroleum product exports to the EU dropped from $19.2 billion in FY24 to $15 billion in FY25 — a decline of 27.1%, as per the think tank’s analysis.
- In FY2025, India imported $50.3 billion worth of crude oil from Russia, accounting for over one-third of its total crude oil bill of $143.1 billion.
‘We’re going to crush your economy’: US
At the same time, the Trump-led US administration has also taken a tough line. Both President Donald Trump and other American leaders have warned countries like India, China, and Brazil – all Brics members – that they could face harsh economic penalties for continuing to import Russian oil.Speaking on Fox News, US senator Lindsey Graham said, “I would tell China, India & Brazil. If you keep buying cheap Russian oil, to allow this war to continue, we will tariff the hell out of you,” adding, “And we’re going to crush your economy, because what you are doing is blood money.”President Trump had earlier echoed a similar warning during a meeting with Nato secretary general Mark Rutte at the White House. He declared that the US would impose 100 percent “secondary tariffs” on countries that keep purchasing Russian oil and gas if President Vladimir Putin does not agree to a peace deal within the next 50 days.
