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U.S. will not sanction India for buying Russian oil: senior American officials

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U.S. will not sanction India for buying Russian oil: senior American officials

  • The United States does not intend to sanction India over its continued purchase of Russian oil, calling New Delhi one of their most “consequential” partners.

Rising oil imports

  • While India and the U.S. “do not always share the same policy approaches” with regard to Russia and Ukraine, the two countries share a commitment to “upholding the international rules-based order that is founded on respect for territorial integrity and sovereignty”.
  • Despite several calls to reduce oil purchases from Russia, the Indian government has repeatedly asserted that it will buy oil from “wherever” it needs to.
  • According to the latest figures for January, India has imported around 1.27 million barrels per day (bpd) of Russian Urals oil, a 30-fold jump from last January when it was around 40,000 bpd.
  • Russia, which was earlier the 17th biggest oil supplier to India, has become the highest exporter for the past few months.
  • It now accounts for about 28% of India’s oil imports, up from 0.2% before the invasion of Ukraine.

No secondary sanction

  • American rejected the calls for secondary sanctions against countries such as China and India that were “financing the Russian economy and the Russian military machine”.
  • Earlier , the U.S. had called India’s stand on Russia, including its refusal to criticise Russia’s actions in Ukraine, as “deeply disappointing”.
  • However, the U.S. officials briefing the media made it clear that Washington was now “comfortable with the approach that India has taken”.

Prelims Take Away

  • Russia-ukraine War
  • Location Based question
  • India-Russia Trade

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