It is not only a compulsion but also necessary for the world economy…’, India explained to Zelensky why Russian oil is important for India

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Prime Minister Narendra Modi on Friday invited Ukrainian President Volodymyr Zelensky to visit India. On this, Zelensky said that he would be happy to visit the “great” country. PM Modi made a nearly nine-hour visit to Kiev, which was the first visit of an Indian Prime Minister since Ukraine’s independence three decades ago.

During a media briefing after the talks between the two leaders, External Affairs Minister S Jaishankar confirmed that Modi has invited Zelensky to visit India. He said, “It is significant that our Prime Minister has visited Ukraine for the first time since 1992. On such occasions it is natural that he extends an invitation, as he did in this case.”

Foreign Minister Jaishankar said, “Therefore we hope that President Zelensky will visit India at his convenience.” The joint statement also said that Modi invited Zelensky to visit India at his convenience.

Zelensky said – I will be happy to come to India

When asked about Modi’s invitation at a media briefing, Zelensky said he would be happy to visit India. “Yes, because when you start a strategic partnership and you start some dialogue, I think you don’t need to waste time and stay too long. So I think it would be nice to meet again,” he said. The Ukrainian President also said he wanted India to be on his country’s side.

Also read: PM Modi said in Ukraine- India is in favor of peace, Zelensky said- there should be no balancing act

He said, “I have read a lot about your big and great country. It is very interesting. I need your country very much. As soon as your government and Prime Minister agree to meet me, I will be happy to come to India.” At the same time, he suggested that the visit would also depend on the situation in Ukraine.

Jaishankar explained why it is necessary to buy oil from Russia

Meanwhile, in response to a question, External Affairs Minister S. Jaishankar said that India’s energy trade with Russia was also discussed. The Foreign Minister said, “Yes, there was a discussion. I will not go into detail, but we explained to the Ukrainian side what the current situation of the energy market (Energy Trade) is. Even today sanctions have been imposed on many energy producers, which has potentially made the market conditions very difficult. It is not just compulsion, I mean it is in the interest of the international economy as a whole that oil prices remain reasonable and stable.’

India, the world’s third-largest oil-consumer and importer, bought crude oil worth USD 2.8 billion from Russia in July, second only to China which remains the biggest importer of Russian oil, according to a report by the Centre for Research on Energy and Clean Air (CREA).

Also read: Hand on shoulder, emotional meeting… Photos of PM Modi-Zelensky’s talks in Kiev

About 40 percent of oil is imported from Russia
Russia has emerged as India’s largest supplier of crude oil, which is refined in refineries into fuels such as petrol and diesel. After some European countries stopped buying oil from Moscow after the attack on Ukraine in February 2022, Russia started giving discounts on oil and India took advantage of it. Before the Ukraine war, India’s oil imports from Russia were less than one percent of the total oil but now it is about 40 percent of India’s total oil purchases.

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