India responds to US claims of “profiteering” from Russian crude
(MENAFN) Indian Foreign Minister S. Jaishankar has responded to repeated US allegations that New Delhi is “profiteering” from Russian crude, emphasizing that no country is “forced” to buy oil products from India.
Speaking at an Economic Times event in New Delhi, Jaishankar also dismissed claims that India’s imports of Russian oil contribute to the conflict in Ukraine. “If you have a problem buying oil or refined products from India, don't buy it,” he said. “Nobody forces you to buy it. Europe buys, America buys, so you don't like it, don't buy it.”
US officials have criticized India’s crude purchases in recent weeks. Peter Navarro, a trade adviser to President Donald Trump, described the practice as unnecessary and claimed it functions as a “refining profit-sharing scheme” and a “laundromat for the Kremlin.” Earlier, US Treasury Secretary Scott Bessent accused India of “profiteering” by buying Russian crude and reselling it.
Jaishankar argued that importing Russian oil benefits both India and global markets by helping stabilize prices. Earlier this month, Trump imposed an additional 25% tariff on imports from India in response to New Delhi’s continued purchases of Russian crude, adding to the previous 25% tariff applied after the US and India failed to reach a trade agreement.
Despite tensions, Jaishankar stressed that trade talks between the two countries are ongoing and that there is no permanent fallout, though some “red lines” remain, such as protecting Indian farmers’ interests. A US delegation had been scheduled to visit India for the next round of negotiations on August 25, but the visit was canceled last week.
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