The US prioritises its bilateral relationship with New Delhi and views India as a “very crucial” strategic ally in the strategically significant Indo-Pacific region, according to the White House, which also noted that each country must make its own choices about Russia. Because Russia began a “special military operation” in the neighbouring Ukraine, the US-led Western nations have imposed punishing sanctions on it.
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KEY POINTS:
- India is a “very important strategic partner in the Indo-Pacific region.”
- Industry data show that as refiners buy Russian crude available at a significant discount as a result of the conflict in Ukraine, Russia has surpassed Saudi Arabia to become India’s second-largest oil supplier after Iraq.
- About 25 million barrels of Russian oil, or more than 16 percent of their total oil imports, were purchased by Indian refiners in May.
- India reiterated earlier this month that its needs for energy security serve as the basis for its purchases of crude oil from Russia.
Impact of Russia-Ukraine War:
- In western capitals, there has been some unease regarding India’s stance on the Ukraine situation and its choice to buy discounted Russian oil.
- India is yet to denounce the Russian war on Ukraine but has been advocating for an immediate halt to all hostilities and a diplomatic and diplomatic solution to the crisis.
- India, the third-largest oil consumer and importer in the world, has long justified its purchases of crude oil.
- India, the third-largest importer and consumer of crude oil worldwide, has long defended its purchases of Russian crude oil by pointing out that its imports from Russia are negligible in comparison to those of Europe and only make up a small portion of the country’s overall consumption.
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