Russia is ready to satisfy additional demand for oil from India if it arises, Russian Deputy Prime Minister Alexander Novak has said, amid reports of blockade of Straits of Hormuz by the Iranian Revolutionary Guards.
“Always ready,” Novak said on Wednesday in Moscow when answering a question as to whether Russia plans to increase oil supplies to India amid the escalation of the conflict in the Middle East.”Our oil is in demand. If they buy, we will sell,” he said.
In Delhi Russian Ambassador Denis Alipov said on Thursday that Moscow has always been open to supplying crude oil to India, amid increasing concerns over spiralling prices of petroleum products in view of the West Asia crisis.
“We have been open to supplying crude oil to India,” Alipov told reporters while responding to a question on Russian crude oil supplies to India in view of the West Asia crisis.
Though volume of Russian oil imports to India have reduced, New Delhi continues to purchase 1.5 millions barrels per day of crude from Moscow and this may increase amid the West Asian crisis. There are reports that India has received shipments of Russian oil which was originally scheduled for another Asian destination.
According to Reuters report, Russia is prepared to divert crude shipments to India to offset potential disruptions from the Middle East. Nearly 9.5 million barrels of Russian crude are currently on vessels near Indian waters and could reach refineries within weeks.
Roughly 40 per cent of its crude imports pass through the Strait of Hormuz — one of the world’s most critical energy chokepoints. Reports on Thursday stated that Iran is blocking Hormuz for ships from the USA, Israel and Europe.
Meanwhile, United States Deputy Secretary of State Christopher Landau on Thursday suggested that India can look towards American energy supplies, saying there is no “better alternative” than the US.
Responding to a question on India’s purchases of Russian oil, Landau said: “I hope you are looking for alternate sources… You can’t have a better alternative than the USA.”
Landau was speaking at the Raisina Dialogue organised by the Observer Research Foundation in New Delhi, where he addressed a session titled “Power, Purpose, and Partnerships: American Foreign Policy in a New Era.”
Landau defended Washington’s “America First” approach to foreign policy under President Donald Trump, arguing that it is not an isolationist doctrine. “America First doesn’t mean America alone,” he said. “It’s not an isolationist policy. We expect other countries to pursue their interests.”
“Our foreign policy is focused on advancing US interests. We are not a charity,” he added. Referring to the political leadership in both countries, he said: “Trump, as he will make America great again, he will expect Modi to make India great again.”
On bilateral trade negotiations, he added: “We are excited about the trade deal. It’s almost at the finishing line now… We are very much excited about focusing on India on economic opportunities.”
At the same time, Landau warned that the US does not want to repeat past strategic miscalculations. “We are not going to make the same mistake with India which we made with China 20 years ago.”>
