India is very much wedded to its policy of “strategic autonomy” and the country’s energy procurement will be driven by factors like costs, risks and availability, External Affairs Minister S Jaishankar said on Saturday against the backdrop of Washington’s claim that New Delhi has agreed to stop importing Russian crude oil.
In an interactive session alongside German Foreign Minister Johann Wadephul at the Munich Security Conference, Jaishankar said the global energy market is “complex” and India’s oil companies will take decisions based on what they consider to be in their best interest.
“We are very much wedded to strategic autonomy because it is very much a part of our history and our evolution. And it is something which is very deep, it is something which cuts across the political spectrum as well,” he said.
“As far as energy issues are concerned, this is a complex market today. I think the oil companies in India, as in Europe, as probably in other parts of the world, look at availability, look at costs, look at risks and take decisions that they feel are in their best interest,” he said.
The external affairs minister was responding to a question on whether India will stop buying Russian oil under the provisions of a trade deal and if such a move could impact New Delhi’s policy of strategic autonomy.
India has not yet confirmed or denied Washington’s claim that it has committed to stopping the procurement of Russian crude oil.
Following a recent phone conversation between Prime Minister Narendra Modi and United States President Donald Trump, both sides announced a reduction of the US tariffs on Indian goods to 18 per cent from 50 per cent.
The reduction included the removal of a 25-per cent tariff that Trump had slapped on India in August last year for New Delhi’s purchase of Russian oil.
Jaishankar said India keeps the option of making independent decisions, without always agreeing with its partners in the West.
“We would not necessarily agree on everything, but I do believe that by doing that, and if there is an inclination to find common ground and overlaps, that would happen,” he said.
“If the bottomline of your question is — would I remain independent-minded and make my decisions and would I make choices which may not agree with your thinking — yes, it can happen,” he said.
The external affairs minister also strongly called for reforms in the United Nations, especially in view of the profound changes that the world has been witnessing.
These developments also underline the need to reform the UN, especially after the world experienced a series of shocks over the last five years, including the COVID-19 pandemic, the Ukraine conflict, the tensions in the Middle East, and the rise of China and its impact on global systems, he said.
