Russia claims its oil sales to India cushion the impact of the Iran conflict
Russia says its oil shipments to India are helping the latter cope with the energy shock caused by the war in Iran, after Ukrainian President Zelensky suggested cutting ties would force Russia to end its war.
Russia’s deputy foreign minister, Andrei Rudenko, said that its oil exports to India have significantly mitigated the energy shock stemming from the war in Iran and broader disruptions in global fuel markets. He made the statement after Ukrainian President Volodymyr Zelensky argued that if India and China stopped purchasing Russian energy, Moscow would be forced to end its war in Ukraine. India’s external affairs minister, S Jaishankar, countered that the country must meet the energy needs of its 1.4 billion population and that buying Russian oil does not resolve the Ukraine conflict.
While India increased its imports of Russian oil following tensions in the Strait of Hormuz, a 16.5% decline in Russian crude shipments to India in August was reported, though Russia still leads as India’s main oil supplier. The dialogue unfolds as the United States clears a sanctions bill that could levy up to 100% tariffs on countries importing Russian oil, potentially affecting India and China. Both sides continue to emphasize their strategic energy interests amid the broader geopolitical turmoil.
Why it matters
The story shows how energy trade links influence geopolitical strategies amid the Iran war and Ukraine conflict.
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