Always exploring all potentialities in international vitality markets: India

By PTI

NEW DELHI: India on Thursday didn’t rule out shopping for discounted crude oil from Russia, saying it appears in any respect choices in any respect factors of time as a significant importer of oil.

At a media briefing right here, Ministry of External Affairs (MEA) Spokesperson Arindam Bagchi didn’t give a direct reply to a query on whether or not India was contemplating taking over the Russian provide of low cost crude oil.

“India does import most of its oil requirements, it’s met by imports. So we are always exploring all possibilities in global energy markets because of this situation that we face of importing our oil requirements,” he mentioned.

Bagchi mentioned Russia has not been a significant provider of crude oil for India.

“Let me just highlight that a number of countries are doing so, especially in Europe, and for the moment, I will leave it at that. We are a major oil importer and we are looking at all options at all points, we need the energy,” he mentioned.

Asked whether or not the acquisition will be made underneath the Rupee-Rouble association, Bagchi mentioned he was not conscious of the precise particulars on the affords.

He mentioned doing enterprise in currencies Rupee and Rouble have been in existence in previous and that he was not conscious of the present standing of the association.

To one other query on the impression of western sanctions towards Moscow on the India-Russia commerce, Bagchi mentioned New Delhi will await it.

“We will await details of any unilateral sanctions to examine their impact on our economic exchanges with Russia,” he mentioned.

Asked about India’s place on the Russian aggression towards Ukraine, Bagchi mentioned India has been in contact with all sides, together with on the highest degree.

“We have been talking about the need for dialogue and diplomacy, not hostilities, clearly,” he added.

When his feedback have been sought on studies that negotiations on resolving the disaster have been focussed on Ukraine’s “neutrality”, the MEA spokesperson evaded a direct reply.

“Our basic message has been the need for diplomacy and dialogue, that is the way forward. The exact contours of what kind of an understanding that can be reached, I would leave it to the protagonists involved, rather than comment on our views of what could be and what is on the table, which we are not even aware of,” he mentioned.