India Signals Interest in Expanding Oil Suppliers, Rubio Says
(MENAFN) US Secretary of State Marco Rubio stated on Saturday that India has signaled an interest in broadening its sources of oil imports.
Rubio made the remarks to reporters following last week’s announcement of new US sanctions targeting Russian energy giants Rosneft and Lukoil.
When asked whether India would cut back on its Russian oil purchases, Rubio said, “Well, I think India has already expressed an interest in diversifying their oil portfolio and who they buy from. And, so, India only needs so much oil.”
Later on Saturday, Rubio held a meeting with his Indian counterpart, S. Jaishankar, on the sidelines of the ASEAN Summit in Malaysia, where the two officials discussed bilateral relations as well as regional and global challenges.
Last week, US President Donald Trump reiterated his belief that India would curb its imports of Russian oil following a conversation with Indian Prime Minister Narendra Modi.
The US imposed a 25% tariff on India in August, citing rising purchases of Russian oil and claims that these imports were indirectly supporting the conflict in Ukraine.
Data from September shows that 34% of India’s oil imports originated from Russia. New Delhi has consistently criticized what it describes as “double standards” in energy trade, emphasizing that it “does not subscribe to any unilateral sanction measures” and is a “responsible actor” in the global energy sector.
On Friday, Indian Commerce Minister Piyush Goyal highlighted the West’s inconsistent approach, noting that Russian energy firms were often exempted from sanctions while India faced pressure to halt its purchases.
“I read a report that Germany has reached out to the US for seeking exemption [for a Rosneft subsidiary]. The UK already has an exemption for procuring oil,” Goyal said.
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