India Reiterates Energy Diversification Strategy in Response to US President's Remarks
In response to recent statements by US President Donald Trump regarding India's oil imports, the Indian government has reaffirmed its commitment to diversifying energy sourcing. External Affairs Minister S. Jaishankar emphasized that this strategy is driven by objective market conditions and evolving international dynamics, with the energy security of 1.4 billion Indians as the supreme priority.
Jaishankar's Productive US Visit and Trade Deal Progress
During his visit to Washington, External Affairs Minister S. Jaishankar described his meetings with US officials, including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent, as "productive" and "positive." He highlighted that the historic India-US trade deal is in the final stages of detailing and is expected to be completed very soon, marking a new phase in bilateral ties with vast possibilities for the relationship.
Jaishankar stated, "Our critical mineral cooperation is also advancing rapidly. Expect engagement on strategic issues, defence and energy in the coming days. Overall, a strong momentum is evident."
Official Response to Trump's Claims on Russian Oil
MEA official spokesperson Randhir Jaiswal addressed questions about President Trump's post on Truth Social, which claimed that Prime Minister Narendra Modi agreed to stop buying Russian oil and increase purchases from the US and potentially Venezuela. Jaiswal did not explicitly confirm or deny the stoppage of Russian oil imports but underscored the government's strategy of diversifying energy sourcing.
He explained that this approach is tailored to ensure energy security amidst changing global circumstances, subtly indicating a shift towards alternatives like the US and Venezuela.
India's Historical and Current Ties with Venezuela
Regarding Venezuelan oil, Jaiswal noted that Venezuela has been a long-standing partner in the energy sector, encompassing trade and investments. It was among India's major sources of crude oil until FY 2019-20, with imports discontinued due to sanctions. Imports resumed in FY 2023-24 but were halted again after sanctions were re-imposed.
Indian public sector undertakings have maintained a partnership with Venezuela's National Oil Company, PdVSA, since 2008, reflecting ongoing engagement despite geopolitical challenges.
Broader Implications for India-US Relations
This development comes amid strengthening India-US relations, with Jaishankar's visit underscoring collaborative efforts in trade, defence, and energy. The emphasis on energy diversification aligns with India's broader foreign policy goals of reducing dependency on single sources and adapting to international shifts.
As global energy dynamics continue to evolve, India's strategy aims to balance economic needs with diplomatic considerations, ensuring stable and secure energy supplies for its vast population.
