India's backbone: We are not G7 members!

The US and European officials have frequently encouraged India to join the "Russian Oil Limited League" of the Seven Kingdoms Group (G7). When asked about the relevant issues on the 15th, India's diplomatic secretary Vinay Kwatra could not help but "fight back": India is not a member of the G7, and the purchase of Russian oil is to meet energy security needs.

"India is not a member of the G7. I want to declare this ... what form should be adopted and developed in what form it should be adopted. question."

According to the Indian newspaper Torlas, Kvatra made the above statements at the press conference before the Indian Prime Minister Modi to Uzbekistan to participate in the SCO Summit.

Kvatra at the press conference. Photo source: Indian Asia International News Agency (ANI)

Since Russia and Ukraine's conflict, as one of the world's largest energy importers, India has significantly improved imports from Russia's oil. In this regard, Kvatra emphasized that this is just a market behavior of national interests, not "the government's procurement of the government."

He said, "More discounts, market pricing ... Listening, we have said several times. When Indian entities go out to try to respond to Indian energy security needs and purchase oil, they basically purchase from the market. These are not the government's purchase of the government. "

Kvatla said that energy security and other issues will also be the topic of the Summit of the Sench Organization.

The Kremlin previously stated that Russian President Putin and Modi will meet on Friday (16th) to discuss the issue of trade including food and the sales of Russian chemical fertilizers. According to sources quoted by the Indian Stan Times, Modi is expected to discuss Ukraine conflicts and energy security issues in bilateral meetings.

According to the data provided by the industry, Indian refineers who rarely purchase Russian oil before February 24 will increase the import volume to 757,000 barrels per day from April to August. 20,000 barrels/day.

It is reported that in terms of coal, Russia also surpassed the United States and became the fourth largest supplier of India. According to data from Indian consulting companies Coalmint, in the six months after the conflict, India's coal imports from Russia increased to 9.35 million tons, which was almost doubled compared to 4.83 million tons in the same period last year.

In addition, the website of the Ministry of Commerce of India shows that in terms of fertilizer, from April to July this year, India's import transaction volume from Russia to Russia also rose to US $ 1.528 million last year.

In July of this year, India's Reserve Bank (central bank) has launched an international trade rupee settlement mechanism and immediately takes effect to avoid the impact of global currency depreciation. The outside world believes that this helps India to carry out trade with Russia.

On the 2nd of this month, the G7 announced that it had reached an agreement on Russian oil prices. The US Deputy Treasury Secretary and EU Energy Commissioner advocated the addition of India and other countries to negotiate a lower price at a limited price as "new leverage". Reduce Russian energy income.

On the 5th, the Minister of Petroleum and Natural Gas Purie of Petroleum and Natural Gas had inquired that India would "consider" the suggestion to participate in the "Limited League". Earlier, some Indian media reported that Russia had proposed to India to supply oil at a lower price in exchange for its support. However, Russia later denied it.

Russia's Ambassador to India, Denis Alipov, told India's Asian International News Agency (Ani) on the 15th that Russia's crude oil supply to India will continue.

"India, as a consumer ... is looking for the cheapest quotation, and Russia is deprived of the traditional European market ... is looking for a new market. Therefore, this best choice for this kind of choice A meeting with the best quotation is promoting trade and our relationship in the field of energy. We believe that this trend will naturally continue in a structured way. "

Shortly after the Russian and Ukraine conflict, the United States and its allies had pressured India, asking them not to buy large commodities such as Russia to discount oil. The US President Biden also put pressure on Modi in person and publicly called India publicly. The performance is "not reliable".

But India always insists that its crude oil procurement will be completely determined by energy safety needs. Indian Treasury Secretary Sitraman also praised the country's approach a few days ago, saying that it was one of the measures of "inflation management", and bluntly said that "the courage to import crude oil from Russia admires me."

Source: Observer.com

- END -