The Ministry of External Affairs (MEA) outlined India’s position on buying Russian oil, following the US decision to revoke its 25% additional tariff on India after announcing a bilateral trade agreement framework.
The White House statement noted that India has “committed to stop directly or indirectly importing” Russian oil under this framework.
India’s MEA emphasised that diversifying energy sources, based on market realities and global shifts, remains key to securing energy for its 1.4 billion citizens.
Responding to questions on energy security, the MEA spokesperson Randhir Jaiswal reiterated that it as the government’s top priority.
“Ensuring energy security for 1.4 billion Indians is our supreme goal, as stated publicly many times,” the spokesperson said.
All energy decisions stem from this aim, the MEA added.
“Diversifying sources amid market conditions and international changes forms the core of our strategy,” the spokesperson explained. “All actions, past and future, align with this.”
In a joint statement, the US and India confirmed a framework for an Interim Agreement on reciprocal trade benefits.
The US will impose an 18% reciprocal tariff on Indian goods like textiles, apparel, leather, footwear, plastics, rubber, organic chemicals, home decor, artisanal items, and select machinery.
Upon full Interim Agreement finalisation, the US will lift tariffs on a broad list from Executive Order 14346, including generic pharmaceuticals, gems, diamonds, and aircraft parts.
(with ANI inputs)
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: ZEE News
