'Do you have a better deal?': Jaishankar defends India’s Russian oil purchases

India's stance on Russian oil purchases has previously drawn global scrutiny.

External Affairs Minister S Jaishankar firmly defended India’s decision to purchase oil from Russia, addressing criticism at the Doha Forum on December 7. According to a report by Times of India, speaking during a panel on 'Conflict Resolution in a New Era,' he stressed that India's energy purchases are guided by pragmatism, not opportunism.

"I get oil, yes. It is not necessarily cheap. Do you have a better deal?" Jaishankar remarked in response to concerns about India sourcing "cheap oil" from Russia amid the ongoing Ukraine war, the TOI report added.

He highlighted the growing global sentiment for negotiations to resolve the Russia-Ukraine conflict, stating, "I do think today, the needle is moving more towards the reality of the negotiation than the continuation of the war."

Jaishankar detailed India’s efforts to engage both sides in dialogue, saying, "We are going to Moscow, talking to President Putin, going to Kyiv, engaging President Zelenskyy, meeting them in other places. We are trying to see if we can encourage finding common threads that can be picked up when the circumstances are right."

The TOI report adds that he clarified India’s approach, "We are not attempting a peace plan or mediation in that sense. We have multiple conversations and are transparent with both parties, ensuring that each side knows what we’ll share. At this point, this is the most useful thing we can do diplomatically."

India's stance on Russian oil purchases has previously drawn global scrutiny. Last month, Union Minister Hardeep Singh Puri defended the decision, stating, "India did the entire world a favour by buying Russian oil. If we had not done so, global oil prices would have skyrocketed to $200 per barrel." He also noted that Russian oil was not under sanctions and Indian entities adhered to the price cap.

Jaishankar is currently on an official visit to Qatar and Bahrain from December 6-9. He is set to co-chair the 4th India-Bahrain High Joint Commission alongside Bahrain's Foreign Minister Abdullatif bin Rashid Al Zayani.