US Energy Secretary Chris Wright has urged India to reconsider its imports of Russian oil, framing it as a moral issue. He stated that revenues from Russian oil sales are being used to finance Moscow’s military operations in Ukraine. Wright emphasised that the United States does not wish to penalise India further, noting that India is free to purchase oil from any country, except Russia.
Clarifying the US position, Wright suggested that India could support global energy security by sourcing oil elsewhere. He highlighted that the United States itself is an oil-exporting nation and reminded that numerous countries globally supply oil. “Nobody wants Russian oil. India buys it mainly because of lower prices,” he said, adding that Russia is compelled to sell at a discount due to the lack of other buyers. According to Wright, the US aims to bring the war in Ukraine to an end. However, despite existing sanctions, Russian oil continues to reach India, China, and Turkey, providing Moscow with funds to sustain its military campaign.
Jaishankar highlights double standards, India tells US it cannot give up Iran, Russia, Venezuela
In response, External Affairs Minister S. Jaishankar offered a measured critique indirectly, pointing to what he described as double standards regarding Russian oil. “Development comes through peace, but some are attempting to enforce peace by undermining development,” Jaishankar said. He stressed that problems should be resolved through dialogue and diplomacy, cautioning that opposing efforts could exacerbate tensions.
Jaishankar also noted the broader impact of current geopolitical and economic crises, which have sharply increased the prices of food, energy, and fertilizers, particularly affecting countries in the Global South. In this context, these nations are striving to secure stable supply chains, availability, and affordable prices. “Instead of supporting these efforts, some are opposing them, which is a clear double standard,” he added.
On the broader oil supply question, India has indicated that if the US insists on halting Russian oil imports, it should be willing to allow India to source oil from Iran or Venezuela. Indian officials argue that excluding Russia, Iran, and Venezuela from the market would significantly push up international oil prices, creating challenges for South Asian economies.
India, which imports around 90 percent of its oil, stresses that access to affordable oil is critical for ensuring energy security for its 1.4 billion population. As of July, the average price India paid for Russian oil was $68.90 per barrel, compared with $77.50 for Saudi oil and $74.20 for US oil. Through its trade negotiations with the US, India is expected to underscore the necessity of low-cost oil imports to maintain domestic stability and energy security.
