EAM S Jaishankar meets Vladimir Putin, says baffled by US logic on India purchasing Russian oil

External Affairs Minister S Jaishankar on Thursday said India was perplexed at the US logic behind imposing punitive tariffs on its purchase of Russian crude oil. “New Delhi’s energy cooperation with Moscow is vital and must be sustained through investments,” he said.

He emphasised that India’s steadfast ties with Russia since the World War II had been crucial for technology transfer and the “Make in India” initiative.

During his visit to Moscow, Jaishankar held bilateral discussions with his Russian counterpart Sergey Lavrov and later called on President Vladimir Putin, where they reportedly explored ways to expand India-Russia relations further.

At a press conference, the minister questioned the rationale behind the US tariffs, noting that American officials had previously encouraged actions to stabilise global energy markets, including buying Russian oil. He highlighted the disparity in treatment, arguing that “India is not the largest purchaser of Russian oil, it is China and that the European Union is the biggest buyer of LNG, not India. Also the most significant trade surge with Russia since 2022 did not originate from India”.

The US has imposed 25 per cent reciprocal tariffs on India, plus an additional 25 per cent levy on its Russian oil purchases, resulting in total duties of 50 per cent. While President Donald Trump pressured India to halt oil imports from Russia, claiming they fuel the Ukraine war, the US has not imposed similar tariffs on China for its Russian oil imports. US Treasury Secretary Scott Bessent justified this difference by accusing India of significantly increasing imports after the war began and engaging in “profiteering by reselling”, unlike China.

India has defended its oil purchases as a sovereign decision based on market conditions, availability and national interest.

In his meeting with Lavrov, Jaishankar said, “India-Russia relations are one of the steadiest among major world partnerships since the World War II. He noted Russia’s support for India’s “Make in India” objectives in defence and military technical cooperation, including joint production and technology transfer. The remark is significant given India's lack of technology transfer from the US despite defence purchases worth Rs 20 billion.

The two foreign ministers reaffirmed their commitment to expanding bilateral trade and preparing for the annual summit at year-end, which Putin is scheduled to attend in India. Jaishankar stressed the shared goal of increasing Indian exports to Russia in a balanced and sustainable manner, addressing non-tariff barriers and regulatory hurdles in sectors such as agriculture, pharmaceuticals and textiles.

During a meeting with Russia’s Deputy Prime Minister Denis Manturov on Wednesday, Jaishankar underscored the urgency of reaching the $100 billion bilateral trade target by 2030, calling for the removal of trade barriers and improved logistics to facilitate the exchange of Indian goods.