Speaking at a joint press conference alongside Russian Foreign Minister (FM) Sergey Lavrov in Moscow on Tuesday, Indian External Affairs (EAM) Minister S. Jaishankar said Russian oil imports have “worked to [India’s] advantage” and that the government “would like to keep that going.”
Jaishankar noted India has turned to Russian energy in light of heavy “stress on the energy markets,” which he said has been caused by several factors, hinting at the Ukraine-Russia war and OPEC+’s recent decision to cut oil production by two million barrels per day (bpd).
In this regard, he reiterated that New Delhi has a “fundamental obligation” to secure the “most advantageous” oil deal for Indian consumers, particularly in light of its citizens’ relatively low average incomes.
🇷🇺🤝🇮🇳 A glimpse at the joint press conference by #Russia’n & #India’n Foreign Ministers in #Moscow pic.twitter.com/COmAmqRliP
— Russia in India 🇷🇺 (@RusEmbIndia) November 8, 2022
Lavrov, meanwhile, said there are “good prospects” for bilateral energy ties and suggested increasing hydrocarbon exports to Indian markets. In this regard, he recommended “mutual participation” in hydrocarbon extraction in the Far East and the Arctic shelf.
The Russian FM revealed that the pair had also spoken of expanding “effective cooperation” in civil nuclear energy generation to increase India’s clean and safe energy sources. To this end, the two ministers discussed the prospect of setting up a Russia-designed nuclear power plant in India.
🇮🇳🤝🇷🇺 #Jaishankar: I believe this is the fifth time we are meeting this year. I think that speaks of our long term partnership and the importance that we attach to each other. And I am really glad to be here today in #Moscow to carry forward this dialogue. https://t.co/TTiHjl4q1s pic.twitter.com/0CLMuxnDJM
— Russia in India 🇷🇺 (@RusEmbIndia) November 8, 2022
The Indian minister’s declaration comes just days after Russia overtook Iraq and Saudi Arabia to become India’s top supplier of crude oil. Russian oil now accounts for 22% of India’s oil imports, above Iraq’s 20.5% and Saudi Arabia’s 16%. The dramatic shift is a direct result of Russia’s decision to offer discounted oil to India as its traditional suppliers in the Middle East have redirected their supplies to Europe.
India has faced repeated warnings of “significant consequences,” particularly from the United States, over its decision to purchase Russian oil. In fact, Ukraine, too, has said each barrel India purchases has a “good portion of Ukrainian blood in it.” However, India has stood firm on its ability to take independent decisions as a sovereign nation and has reiterated that it has no “moral conflict” in purchasing Russian oil
Just concluded comprehensive discussions with Foreign Minister Sergey Lavrov of Russia.
— Dr. S. Jaishankar (@DrSJaishankar) November 8, 2022
Reviewed the entire gamut of our steady and time-tested relationship.
Also exchanged perspectives from our vantage points on global and regional developments. pic.twitter.com/pAuokWwJWI
Jaishankar’s visit is particularly significant as it comes in the run-up to the G20 summit in Bali scheduled for later this month, which is expected to focus on the Ukraine conflict. It is also his first trip to Moscow since Russia launched its military attack against Ukraine.
Recognising the “unusual” timing of the visit, Jaishankar began his press conference address by laying down the “context” for the meeting. He said India and Russia’s “long-standing partnership” has “served both countries very well over many decades.” He clarified that his meetings with Lavrov and Deputy Prime Minister Denis Manturov aimed to “assess how [the relations] are doing.” He acknowledged, however, that “there are clearly challenges that we need to address as well as prospects that we are exploring.”
#Manturov: Comprehensive, multi-vector cooperation in the field of trade & investments is successfully developing, industrial cooperation between 🇷🇺#Russia & 🇮🇳#India is expanding in a wide range of areas. https://t.co/ciYtJQcYiu
— Russia in India 🇷🇺 (@RusEmbIndia) November 8, 2022
Jaishankar reaffirmed that India’s position on the Ukraine war was clearly stated by Prime Minister Narendra Modi during his meeting with Russian President Vladimir Putin in September, when he said that it “is not an era of war.”
The EAM emphasised the importance of “dialogue and diplomacy” and said that India is “on the side of peace, respect for international law, and support for the UN Charter.”
He also reflected on the need to take stock of the interconnectedness of the global economy, pointing to how the Ukraine war has impacted energy and food security across the Global South. In this regard, he said that India has assisted several countries by providing grains and fertilisers.
A productive meeting with Co-chair of the Inter-Governmental Commission Deputy PM Denis Manturov.
— Dr. S. Jaishankar (@DrSJaishankar) November 8, 2022
Discussed strengthening a durable and balanced partnership.
Explored cooperation in trade, investments, energy, fertilisers, pharma, agriculture and shipping. pic.twitter.com/C3Ofj2utBS
According to a press release by the Russian government, Lavrov appreciated India’s position on the Ukraine issue and informed Jaishankar about the course of Russia’s “special military operation.”
In particular, he spoke of Western powers’ misuse of the Ukraine issue to “strengthen their dominant role in world affairs and prevent the democratisation of international relations.”
On expanding bilateral relations, the pair agreed to strengthen their “privileged and strategic partnership” to meet their mutual needs and protect international and regional security and stability. Keeping this in mind, the pair expressed their support for the early conclusion of a free trade agreement between the Eurasian Economic Union and India.
🇷🇺#Russia &🇮🇳#India Foreign Ministers meeting has started in Moscow#Lavrov: We have regular communication and this reflects the nature of our special and privileged strategic partnership pic.twitter.com/9iKM6xQi6u
— Russia in India 🇷🇺 (@RusEmbIndia) November 8, 2022
On the “positive dynamics” in bilateral trade, Lavrov noted that India-Russia trade has grown by 133% over the last year to almost $17 billion, and expressed confidence about this figure soon touching $30 billion.
Jaishankar argued that this upward trend in bilateral trade is a product of years of engagement, along with the stress on the global economy caused by the Ukraine conflict and COVID-19 pandemic. He said the $30 billion target set by both Russian and Indian officials can be achieved by increasing Indian exports to Russia.
The pair also discussed enhancing connectivity through ongoing discussions on the North-South international transport corridor and the Chennai-Vladivostok Eastern Maritime Corridor.
Jaishankar and Lavrov spoke about expanding “military-technical cooperation” as well, including collaborating to produce modern weapons. They further discussed expanding cooperation in space exploration and fertilisers.
Apart from bilateral issues, the pair discussed several issues of global and regional importance, including the Afghan humanitarian crisis.
Responding to a question in the media address, Jaishankar highlighted that the Afghan crisis “is not getting the attention it deserves.” He stressed the importance of international cooperation to ensure that “there is no terrorism threat that comes out of Afghanistan.”
Lavrov and Jaishankar reaffirmed their support for the Afghan people and their insistence on the Taliban adhering to its international commitments. Jaishankar highlighted that India has provided medical and food supplies and tried “to find ways by which the Afghan people are supported in a very difficult phase of their history.”
The ministers also discussed cooperation in multilateral platforms such as the United Nations, BRICS, the Shanghai Cooperation Organisation, and the G20. In addition, Jaishankar emphasised on the need to collaborate on counterterrorism and tackling cross-border crimes and highlighted the importance of a rules-based order in the Indo-Pacific and ASEAN centrality.
Concluding his address, Jaishankar said he intends to focus on the Iran nuclear issue and the security situation in the Middle East, too, particularly in Syria and Palestine.