Zoom News : Jun 28, 2022, 09:09 PM
India has made a clear stand in front of the world regarding the purchase of crude oil. Foreign Secretary Vinay Kwatra said on Tuesday that energy security has become a major challenge due to the Ukraine crisis. He said that India will take every decision on oil purchase keeping in view its energy security. Prime Minister Modi had also expressed the same views during the G7 summit in Germany. Other countries also praised this idea of PM Modi.
Kwatra was answering questions from the media in Munich. He was asked whether the action of G7 countries against Russia is putting any pressure on India. The G7 countries want to impose more sanctions on Russia and this is also likely to boost oil prices. Kwatra said, Prime Minister Modi had said that in this time of crisis, energy security is in front of a big challenge. But when it comes to global oil trade, India will first consider its energy security.Let us tell you that a few days ago, many western countries including America had put pressure on India that it should not increase oil trade with Russia. Experts say that India has become a big market for Russian crude oil. In comparison to May, crude oil imported into India has increased by about 7 percent in June. Till last year, India's energy import from Russia was only two per cent.It was Prime Minister Modi who raised the issue of energy security while addressing the session on Climate, Energy and Health. He had said that the cost of energy has increased so much that it may be left only for the wealthy. Kwatra said the Ukraine crisis was discussed at the G7 summit. India has made its stand that the hostages should be freed immediately and leave the war and return to talks.
Kwatra was answering questions from the media in Munich. He was asked whether the action of G7 countries against Russia is putting any pressure on India. The G7 countries want to impose more sanctions on Russia and this is also likely to boost oil prices. Kwatra said, Prime Minister Modi had said that in this time of crisis, energy security is in front of a big challenge. But when it comes to global oil trade, India will first consider its energy security.Let us tell you that a few days ago, many western countries including America had put pressure on India that it should not increase oil trade with Russia. Experts say that India has become a big market for Russian crude oil. In comparison to May, crude oil imported into India has increased by about 7 percent in June. Till last year, India's energy import from Russia was only two per cent.It was Prime Minister Modi who raised the issue of energy security while addressing the session on Climate, Energy and Health. He had said that the cost of energy has increased so much that it may be left only for the wealthy. Kwatra said the Ukraine crisis was discussed at the G7 summit. India has made its stand that the hostages should be freed immediately and leave the war and return to talks.