Ukrainian President Volodymyr Zelenskyy has urged India to halt its crude oil imports from Russia, emphasising that such a move could significantly impact Moscow’s ability to continue its war in Ukraine.
During a recent meeting with Prime Minister Narendra Modi, Zelenskyy highlighted India’s global influence, suggesting that by cutting off Russian oil, India could play a crucial role in pressuring Vladimir Putin’s government.
“You can stop Vladimir Putin and halt his economy, and put him really in his place,” Zelenskyy stated, pointing to the billions of dollars funneled back into Russia’s war economy through oil exports.
In response, Indian External Affairs Minister S Jaishankar defended India’s oil trade with Russia, citing the need to maintain global energy market stability.
Jaishankar explained that India’s decisions are driven by market conditions rather than political pressures, noting that sanctions on major oil producers have already strained global supplies.
Jaishankar further elaborated that India, as a significant oil consumer, must prioritise reasonable and stable oil prices for the benefit of the international economy.
Recent data shows that India has become the largest buyer of Russian oil, with July’s imports accounting for 44% of the country’s total crude intake, reaching a record 2.07 million barrels per day.
