Russia will welcome Indian goods if there is difficulty in entering the US market, Roman Babushkin, Chargé d'Affaires of the Russian Embassy in India said on August 20.
“If Indian goods are facing difficulties entering the US market, the Russian market is welcoming Indian exports,” he said during a press briefing.
Moreover, Babushkin said any unilateral decisions will lead to "disruptions in supply chains" and endanger the energy security of developing countries as Russia is the largest producer of oil and India the largest consumer. He also targeted the West for their "neocolonial behaviour", saying the pressure on India is "unjustified and unilateral".
"Hypothetically, if India refuses Russian oil, it will not lead to equal cooperation with the West in general because it is not in the Western nature, which was clearly demonstrated in recent years."
Trump’s sanctions on India intended to influence Russia-Ukraine talks, says White House
The Russian official also said Moscow will continue supplying oil to New Delhi and it has a "very, very special mechanism" for that, adding that the crude supply will remain at the same level.
The embassy official said Russia does not expect India to stop buying its oil despite the "challenging circumstances", describing the relationship between the two nations as "true strategic partnership".
"If the West criticises you, it means you are doing everything right...We don't expect that to happen (India to stop buying oil from India). We know about the challenging circumstances for India," he said.
"Whatever happens, even during challenges, we are committed to removing any problems...The recent phone call by President Putin to PM Modi ji, explaining and sharing the information about recent developments in Ukraine, means India matters a lot to Russia. We are capable of finding any solution for mutual satisfaction. The deepening of our partnership will help us grow together..."
US again claims Trump ended India-Pak conflict by 'using trade leverage'
Babushkin also confirmed that President Putin is expected to visit India by the end of this year to meet PM Modi.
The ties between New Delhi and Washington turned sour in the last few weeks after US President Donald Trump levied a base tariff of 25 percent on Indian goods and an additional 25 percent for purchasing Russian crude oil. Trump later said the penalty for buying Russian oil was to influence its talks with President Vladimir Putin over Ukraine war.
Trump met Putin in Alaska on August 15 in his efforts to end the war between Ukraine and Russia.
New Delhi has termed the steep tariffs imposed on India as "unjustified and unreasonable" and the trade talks scheduled for August 25 was postponed to a later date.
How Trump's risky moves gave momentum to India-China thaw
However, the US has stopped short of imposing similar tariffs on China over its purchases of Russian oil.
Last month, the European Union sanctioned Russian-backed Indian refinery Nayara Energy, leading the refiner to cut back processing and companies to curtail their trading with them.
Trade between Indian and Russia was expected to grow 10 percent annually, Evgeniy Griva, Deputy Trade Representative of Russia to India said at the briefing.
With agency inputs
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
