Friendship with Russia and hand in hand with America, know the whole truth of India’s oil diplomacy:

News India Live, Digital Desk: Despite the ongoing tension between Russia and Ukraine and stringent sanctions imposed by the US, India is continuously purchasing crude oil from Russia. Questions have often been raised on this issue as to why America has not taken any punitive action against India till now. Now the White House has issued an important statement clarifying the situation on this, which has once again proved India’s growing dominance in global diplomacy.

White House clarification: Why did India get exemption?

According to senior White House officials, America’s main objective is to reduce Russia’s oil earnings, not to destabilize the global oil market.

Market Equilibrium: If a big consumer like India stops buying Russian oil, the demand for crude oil in the international market will suddenly increase. Due to this, oil prices will start skyrocketing, which will affect the entire world economy.

Adherence to price cap: America believes that India is respecting the ‘price cap’ policy while purchasing oil from Russia. Due to this, Russia is getting oil to sell, but it is not getting enough profit to fund the war.

Strategic Partnership: Given the deep bilateral relations between India and the US and India’s importance in groups like the QUAD, the US does not want to ignore India’s energy interests.

Iran crisis and India’s situation

This clarification has come at a time when there is a war with Iran in West Asia and oil supplies through the Strait of Hormuz are disrupted. In such times of crisis, Russian oil remains a strong option for India.

Reliance and other refineries: India’s major refining companies like Reliance and public sector oil companies are helping to keep petrol and diesel prices stable in the country by buying Russian oil at concessional rates.

Supply Chain: Despite the war, Russia remains India’s largest crude oil supplier.

America’s tariff policy and India’s stance

Although there is tension regarding tariffs during the tenure of President Trump, both the countries seem to understand each other’s compulsions and needs in the matter of energy security. The White House has indicated that as long as India fulfills its needs within the framework of international rules, America will continue its support.