EAM says China biggest purchaser of Russian oil in sharp response to US tariff hike
By Anjali Sharma
WASHINGTON- EAM S Jaishankar on Friday stressed that India is not the biggest purchaser of Russia oil in a joint press interaction with Russian Foreign Minister Sergei Lavrov in Moscow after talks.
In a sharp response to the United States’ decision to impose 25 per cent additional tariffs on Indian goods for purchase of Russian oil, he asserted that China and the European Union were the biggest purchaser of Russian oil and LNG than India.
In a joint press interaction with Russian Foreign Minister Sergei Lavrov in Moscow following their talks, Jaishankar stressed that India is not the biggest purchaser of Russian oil.
He said India also buys oil from the US, and that amount has increased.
“We are not the biggest purchasers of Russian oil, that is China. We are not the biggest purchasers of LNG, that is the European Union. We are not the country which has the biggest trade surge with Russia after 2022; I think there are some countries to the South. We are a country where the Americans have said for the last few years that we should do everything to stabilize the world energy market, including buying oil from Russia. Incidentally, we also buy oil from the US, and that amount has increased. So honestly, we are very perplexed at the logic of the argument that you (the media) had referred to,” Jaishankar said.
US President Trump announced 25 per cent tariffs on Indian goods in July, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. A few days later, he imposed another 25 per cent tariff, taking the total to 50 per cent, citing India’s continued imports of Russian oil.
Jaishankar during his press interaction with Lavrov said his meeting with the Russian Foreign Minister allowed a comprehensive review of the entire gamut of India–Russia bilateral relations.
“We believe that relations between India and Russia have been among the steadiest of the major relationships in the world after the Second World War. Geo-political convergence, leadership contacts and popular sentiment remain its key drivers,” he said.
“We reaffirmed our shared ambition to expand bilateral trade in a balanced and sustainable manner, including by increasing India’s exports to Russia. This requires swiftly addressing non-tariff barriers and regulatory impediments. Enhancing Indian exports to Russia in sectors like pharmaceuticals, agriculture, and textiles will certainly help to correct the current imbalance,” Jaishankar said.
He said that steps to ensure long-term supply of fertilizers was also taken up.
“Indian skilled workers, especially in IT, construction, and engineering, can address the labour needs in Russia and deepen collaboration. Sustaining energy cooperation through trade and investments is also important,” Jaishankar said.
Jaishankar and Lavrov also discussed developments in Ukraine and West Asia, with the External Affairs Minister laying thrust on dialogue and diplomacy in resolving conflicts.
“On regional issues, we discussed developments in Ukraine, West Asia, the Middle East and Afghanistan. India’s approach continues to emphasize dialogue and diplomacy as essential to resolving differences,” Jaishankar said.
Jaishankar said the defense and military cooperation between the two countries is robust and Russia supports ‘Make in India’ goals.
“Our defense and military technical cooperation also remains robust. Russia supports India’s ‘Make in India’ goals, including joint production and technology transfer,” he said.
He said he also took up the issue of Indians serving in the Russian Army during the meeting.
“While many have been released, there are still some pending cases, with some missing persons. We hope that the Russian side will expeditiously resolve this,” he said.
“On terrorism, we resolved to fight jointly against all forms and manifestations of terrorism. I conveyed India’s strong resolve to adopt a zero‑tolerance policy against terrorism and our sovereign right to defend our citizens against cross-border terrorism,” Jaishankar said.
External Affairs Minister in a post on X said “Pleased to meet FM Sergey Lavrov today in Moscow. Had a detailed discussion on our bilateral ties, including trade, investment, energy, fertilizers, health, skilling and mobility, defense, and people to people exchanges.”
“We exchanged views on Ukraine, Europe, Iran, West Asia, Afghanistan and the Indian sub-continent. Also spoke about our cooperation in UN, G20, SCO and BRICS. Our meeting helped prepare the outcomes and decisions for the Annual Summit later this year,” Jaishankar further said in the post on X
“We are not the biggest purchasers of Russian oil, that is China. We are not the biggest purchasers of LNG, that is the European Union. We are not the country which has the biggest trade surge with Russia after 2022; I think there are some countries to the South. We are a country where the Americans have said for the last few years that we should do everything to stabilise the world energy market, including buying oil from Russia. Incidentally, we also buy oil from the US, and that amount has increased. So honestly, we are very perplexed at the logic of the argument that you (the media) had referred to,” Jaishankar said.
Trump announced 25 per cent tariffs on Indian goods in July, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. A few days later, he imposed another 25 per cent tariff, taking the total to 50 per cent, citing India’s continued imports of Russian oil.
During the press interaction, the External Affairs Minister said his meeting with the Russian Foreign Minister allowed a comprehensive review of the entire gamut of India–Russia bilateral relations.
“We believe that relations between India and Russia have been among the steadiest of the major relationships in the world after the Second World War. Geo-political convergence, leadership contacts and popular sentiment remain its key drivers,” he said.
“We reaffirmed our shared ambition to expand bilateral trade in a balanced and sustainable manner, including by increasing India’s exports to Russia. This requires swiftly addressing non-tariff barriers and regulatory impediments. Enhancing Indian exports to Russia in sectors like pharmaceuticals, agriculture, and textiles will certainly help to correct the current imbalance,” Jaishankar said.
He further said that steps to ensure long-term supply of fertilizers was also taken up.
“Indian skilled workers, especially in IT, construction, and engineering, can address the labour needs in Russia and deepen collaboration. Sustaining energy cooperation through trade and investments is also important,” Jaishankar said.
During the talks, Jaishankar and Lavrov also discussed developments in Ukraine and West Asia, with the External Affairs Minister laying thrust on dialogue and diplomacy in resolving conflicts.
“On regional issues, we discussed developments in Ukraine, West Asia, the Middle East and Afghanistan. India’s approach continues to emphasize dialogue and diplomacy as essential to resolving differences,” Jaishankar said.
The External Affairs Minister said the defense and military cooperation between the two countries is robust and Russia supports ‘Make in India’ goals.
“Our defense and military technical cooperation also remains robust. Russia supports India’s ‘Make in India’ goals, including joint production and technology transfer,” he said.
The External Affairs Minister said he also took up the issue of Indians serving in the Russian Army during the meeting.
“While many have been released, there are still some pending cases, with some missing persons. We hope that the Russian side will expeditiously resolve this,” he said.
“On terrorism, we resolved to fight jointly against all forms and manifestations of terrorism. I conveyed India’s strong resolve to adopt a zero‑tolerance policy against terrorism and our sovereign right to defend our citizens against cross-border terrorism,” Jaishankar said.
External Affairs Minister said, “Pleased to meet FM Sergey Lavrov today in Moscow. Had a detailed discussion on our bilateral ties, including trade, investment, energy, fertilizers, health, skilling and mobility, defense, and people to people exchanges.”
“We exchanged views on Ukraine, Europe, Iran, West Asia, Afghanistan and the Indian sub-continent. Also spoke about our cooperation in UN, G20, SCO and BRICS. Our meeting helped prepare the outcomes and decisions for the Annual Summit later this year,” Jaishankar further said in the post on X
Jaishankar has said India and Russia have made significant strides in strengthening their economic ties, with bilateral trade in goods reaching a record high of USD 68 billion in 2024-25.
“Over the last four years, our bilateral trade in goods has increased, as you have noted, more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024-25 and it continues to grow. However, a major trade imbalance has accompanied the growth; it has increased from USD 6.6 billion to USD 58.9 billion which is about nine times,” Jaishankar said in his opening remarks at the 26th India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) in Moscow.
The External Affairs Minister suggested that Working Groups and Sub-Groups adopt a more creative and innovative approach to their agendas, focusing on areas like smoother settlements, better logistics, and joint ventures, adding that IRIGC-TEC will allow to improve efficiency and rise to the occasion of deepening our economic cooperation.
“The various Working Groups and Sub Groups could perhaps take a more creative and innovative approach towards their respective agendas. The challenges posed by the larger landscape that I mentioned require us to do so. And this should be done in a manner in which it works for both sides.
“So, when we speak today as you did, Excellency, of the smoothness of settlements, of better logistics, of diversifying our trade basket, of creating more joint ventures, of moving on skilling and mobility, these are some of the areas, some examples what we need to focus on more effectively,” said Jaishankar.
He said continuously expanding the agenda through mutual consultation will help tap into the full potential of trade and investment ties. “We should continuously diversify and expand our agenda through mutual consultation.
“This will help us to tap into full potential of our trade and investment ties. We should not get stuck on a beaten track. Doing more and doing differently should be our mantras.”
Jaishankar also focused on removing tariff and non-tariff trade barriers, improving logistics, and promoting connectivity through major corridors like the International North-South Transport Corridor and the Chennai-Vladivostok Corridor.
He said streamlining payment mechanisms and finalizing the Programme of Economic Cooperation till 2030 are also key priorities, adding that India and the Eurasian Economic Union are working towards an early conclusion of the Free Trade Agreement, with terms of reference finalized during the session.
Jaishankar said, “Allow me to lay out some of the salient features of the agenda before us. Addressing tariff and non-tariff trade barriers, removing bottlenecks in logistics, promoting connectivity through the International North-South Transport Corridor, the Northern Sea Route and the Chennai-Vladivostok Corridor, effecting payment mechanisms smoothly, timely finalization and execution of the Programme of Economic Cooperation till 2030, the early conclusion of the India-Eurasian Economic Union FTA, whose terms of reference were finalized today, and regular interaction between the businesses of the two countries – these are among the key elements.”
“They will not only help to address the imbalance and grow our trade, but also hasten the timely achievement of our revised trade target of USD 100 billion by 2030,” added Jaishankar.
