Shamil Zhumatov | AFP | Getty Images As the war in Ukraine rages, a visit by Russia’s top diplomat puts pressure on India. Russian Foreign Minister Sergei Lavrov is in New Delhi to persuade India to maintain its neutral line on the Ukraine war and circumvent international sanctions to buy more crude oil through a rupee-payment mechanism. On Friday, he met with his counterpart Subrahmanyam Jaishankar and expressed his “appreciation” for India’s neutral stance on Ukraine. “India is dealing with this situation in all its aspects and not only in a one-sided way,” Lavrov said. He may also meet with Prime Minister Narendra Modi during his visit. However, in a high-level diplomatic drama, the Russian minister’s visit came shortly after the visit of British Foreign Secretary Liz Truss, which was described by the British press as a push against Russia. US Deputy National Security Adviser Daleep Singh – one of the main architects of sanctions against Russia – was also on a similar mission in the city. There is good personal chemistry between Russian President Vladimir Putin and Monti, who is one of four foreign leaders who have been awarded Russia’s top medal, the Order of St. Andrew. In the 2021 National Security Strategy, Russia described relations with New Delhi as a “special and privileged strategic partnership” and discussed them in the same paragraph as Russian-Chinese ties. A day earlier, Lavrov was in China to meet with Chinese Foreign Minister Wang Yi to strengthen ties. “China-Russia relations have withstood the new test of the changing international situation, maintained the right direction of progress and showed persistent growth momentum,” Wang said after their meeting, indicating that China remains “without limits”. . partnership with Russia. Like Beijing, New Delhi abstained from UN votes condemning the Russian invasion, but is now under increasing pressure from Western nations to reconsider its stance.
India buys Russian oil
There have been concerns about the increase in India’s oil purchases from Russia at big discounts. During a visit to India this week, the US Deputy National Security Adviser for International Finance said the Biden government did not want to see India increase its crude oil purchases from Russia. Speaking in Washington on Wednesday, US Commerce Secretary Gina Raimondo said the purchase of cheap Russian oil from India was “deeply disappointing” and again urged New Delhi to “stand on the right side of history”. Even at a discount, Russian oil is expensive due to rising insurance rates as a result of the war in Ukraine. Sunjoy Joshi President, Observer Research Foundation Similarly, Trash said Britain respects India’s decision to buy Russian supplies, but also discussed ways to reduce India’s strategic dependence on Russia. However, an analyst told CNBC that India is unlikely to significantly increase oil imports from Russia. “Even at a discount, Russian oil is expensive because of rising insurance rates as a result of the war in Ukraine,” said Sunjoy Joshi, president of the Observer Research Institute in New Delhi. India is the third largest consumer of oil in the world after the US and China and imports about 80% of its energy needs. In 2021, India bought about 12 million barrels of oil from Russia. That’s between 2% and 5% of its crude imports, Samir N. Kapadia, head of commerce at government consulting firm Vogel Group, told CNBC. However, Indian Oil Minister Hardeep Singh Puri said India had bought 419,000 tonnes of crude oil from Russia in the first 10 months of the current fiscal year, which began in April 2020, according to local reports. He reportedly told parliament that this was just 0.2% of total imports of 175.9 million tonnes. Indian media reported this week that state-owned Indian Oil Corporation had bought two ships of troubled Russian oil – 3 million barrels in each trade – through high-discount traders. Another company, Hindustan Petroleum Corporation, reportedly bought two million barrels of Russian Urals crude. “There are also not many refineries capable of processing Russian crude,” Joshi told CNBC, noting that the oil market would serve as a signal to Moscow that India had not imposed sanctions on Russia.
Security Issues
India, which is heavily dependent on Russian military equipment as it faces a border dispute with China, will also want Lavrov briefed on delivery dates for pending arms deliveries, including the S-400 air defense system. While India is heavily dependent on Russian weapons for its first purchase of Mig-21 fighters in 1962, India has been steadily approaching the West for the past decade. It is a key element of the US-led Indo-Pacific strategy to curb Chinese diplomatic and military aggression in the region. While its trade with the US is over $ 100 billion, the comparative amount for Russia is about $ 8 billion. India’s security needs cannot be changed overnight, Joshi said. “The biggest concern is security. India depends on Russia for inherited defense equipment. The spare parts all come from Russia. Who will replace it?” he said, adding that oil remains secondary in bilateral relations. Dealing with India’s defense issues, the US Deputy National Security Adviser hinted that Russia was unreliable. “The more Russia becomes China’s junior partner, the more leverage China lends to Russia, the less and less favorable it is to India’s strategic stance,” Singh told a local Indian television channel on Thursday. “Does anyone think that if China violates the Real Control Line, Russia will now defend India? I do not,” he said. The Actual Control Line refers to the 2,100-mile unmarked border that separates the Indian-controlled area from the Chinese-controlled territory.
