Nations criticising India indulging in trade with Russia: India’s full statement
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Read full text of India’s statement calling out US, EU over trade with Russia
India’s energy imports are a matter of economic necessity, driven by global market shifts following the outbreak of the Ukraine conflict. The US had in fact “actively encouraged such imports by India to strengthen global energy markets stability” The European Union in 2024 had a bilateral trade of Euro 67.5 billion in goods with Russia. This is significantly more than India’s total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022.
In a strong statement, the Ministry of External Affairs said that India’s energy imports are a matter of economic necessity, driven by global market shifts following the outbreak of the Ukraine conflict. The ministry pointed out that the US had in fact “actively encouraged such imports by India to strengthen global energy markets stability.”
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HERE IS THE FULL STATEMENT RELEASED BY INDIA:
1. India has been targeted by the United States and the European Union for importing oil from Russia after the commencement of the Ukraine conflict. In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. The United States at that time actively encouraged such imports by India for strengthening global energy markets stability.
2. India’s imports are meant to ensure predictable and affordable energy costs to the Indian consumer. They are a necessity compelled by the global market situation. However, it is revealing that the very nations criticizing India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion.
3. The European Union in 2024 had a bilateral trade of Euro 67.5 billion in goods with Russia. In addition, it had trade in services estimated at Euro 17.2 billion in 2023. This is significantly more than India’s total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022.
4. Europe-Russia trade includes not just energy, but also fertilisers, mining products, chemicals, iron and steel and machinery and transport equipment.
5. Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers as well as chemicals.
6. In this background, the targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.
– Ends
Published By: Rivanshi Rakhrai Published On: Aug 5, 2025
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