Hours after Trump's remarks, Russia says its oil deal most 'cost-effective' for India

New Delhi: Russian Ambassador Denis Alipov on Thursday asserted that Russian crude oil remains the most cost-effective option in the global market and aligns with India’s national interests.

His remarks came hours after former US President Donald Trump claimed that Prime Minister Narendra Modi had assured him India would stop buying Russian oil.

"Russian energy remains the most cost-effective option on the global market and Russia has consistently honoured its commitments while showing flexibility in developing alternative logistics and payment systems in the face of attempts to disrupt this cooperation," he said.

He noted that Russian crude oil currently accounts for about one-third of India’s total hydrocarbon imports and called Russia India’s “most reliable energy partner”. Alipov also highlighted the potential to expand cooperation in defence, trade, connectivity and technology.

Alipov also called the strategic partnership between India and Russia a "stabilising force" in global affairs and a "powerful driver of economic growth".

In response to a question whether India will continue to procure Russian crude oil following Trump's remarks, Alipov said, "This is a question for the Indian government (to answer)." He said that the Indian government is dealing with the matter, prioritising the national interests. 

In response to Trump’s comments, External Affairs Ministry spokesperson Randhir Jaiswal said India is “broad-basing and diversifying” its energy sourcing to meet market conditions. He reiterated that protecting Indian consumer interests remains a top priority and noted that India is also expanding energy cooperation with the US.

India's continued purchase of petroleum products from Russia, despite Western sanctions, has become a significant issue, resulting in a severe downturn in ties between New Delhi and Washington.
(With PTI inputs)