New Delhi: The External Affairs Minister S Jaishankar has responded to European Union (EU) foreign policy chief Josep Borrell’s call for action against the sale of Indian refined products, made from the Russian crude.
EAM Jaishankar advised Borrell to have a re-look at the EU Council regulations after the latter called for crackdown on India reselling Russian crude as refined fuel in Europe.
“Look at the EU Council regulations. Russian crude is substantially transformed in the third country and not treated as Russian anymore. I would urge you to look at Council’s Regulation 833/2014,” Jaishankar said in Brussels.
Jaishankar’s sharp remarks come in the backdrop of Western nations contemplating stricter & tighter restrictions on Moscow’s energy sector.
After Moscow invaded Ukraine in February 2022, India govt subscribed to import of subsidized Russian crude. The move initially drew condemnation but subsequently went to become one of the hallmarks of astute governance.
As the crude was made accessible to Indian refineries at cheaper rates, their increased profits & margins helped the company not just recover losses but also generate more wealth by exporting refined products to European nations.
EU foreign policy chief questioned this model of ‘reselling of Russian crude into Europe.’
This is not the first time that Jaishankar has called out Western nations for trying to pressurize India to maintain distance & minimize trade with Russia, in wake of military face-off between Russia-Ukraine. Showing the mirror to EU nations, he said that the Union was independent in making its choices on energy need but then was ‘giving sermons’ to India on its trade with Russia.
