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Russian Ambassador to India Denis Alipov says Moscow will shut down energy supply if prices are unreasonable

India has ensured that Russian crude oil is not procured through government interference and is supplied from the global market

India has ensured that Russian crude oil is not procured through government interference and is supplied from the global market

Russian Ambassador to India Denis Alipov said Moscow would cut energy supplies to countries if it felt the prices offered were unreasonable and if they joined the Western campaign to block Russian energy flows.

Addressing a press conference in New Delhi on September 23, 2022, Mr. Alipov said that both Russia and India are calling for an end to hostilities, but Russia had to act because the reaction against what he described Not giving would be “irresponsible”. “Totally unacceptable action” on the part of the US and NATO.

“Russia will not trade and will not cooperate to make up for its loss. If we believe that prices are unfair to us, we will stop supplying oil to buyers and countries that join the US initiative on price caps,” said Mr. Alipov said in his remarks at the press conference.

G7 finance ministers announced on 2 September that they would impose a price cap on the supply of Russian crude, which was being made available at a discount to buyers such as India and China. The position was later emphasized by a number of officials, including European Commission Executive Vice President Valdis Dombrowski, who on Wednesday discussed a price cap for Russian oil with Commerce and Industry Minister Piyush Goyal in Bali and called it “help to deal with global warming”. One step to do”. energy inflation.”

Mr. Alipov, however, argued that chasing a price cap would make the global energy market more volatile, adding, “I believe it will create a very acute shortage of supply in the global market and ultimately lead to oil spills in the global market.” The price will increase rapidly.” He emphasized that India is expected to act to protect its interests as far as securing energy supply is concerned and reminded that Russian energy continues to flow into the European market.

The scathing remarks by the most senior Russian diplomat stationed in India added to the atmosphere, which was created by Prime Minister Narendra Modi to remind President Vladimir Putin of the urgent need to end the war in Ukraine, which has been called abroad. Minister Dr. S.S. Jaishankar addressed the UN Security Council – a day after President Putin announced a “partial mobilization” – and described the coming days as “troubling”.

The Indian government has said that Russian crude oil is not procured through government intervention and is being supplied from the global market. Foreign Secretary Vinay Mohan Kwatra last week reminded that India is not a member of the G7 and explained, “…when Indian entities go out and try to respond to India’s energy security needs and procure oil So they essentially buy it from the market.”

The Indian market outlook for Russian ESPO (East Siberian Pacific Ocean) crude is however less optimistic, a Reuters news report reported on Friday. Indian entities bought 3.55 million tonnes of Russian crude in August, but in September so far, purchases remain in the region of 2 million tonnes. In comparison, India’s purchases of African crude reached 2.35 million tonnes in September from 1.16 million tonnes in August. Industry sources attributed the fall in Russian crude purchases to higher freight rates, which is cooling India’s interest in Russian energy.

Mr Alipov said there was no difference between the Indian and Russian approaches to the Ukraine crisis and said Moscow, like Delhi, was committed to ending the crisis as soon as possible, but blamed the US and NATO for the “biggest miscalculation”. Convicted. “The US and NATO have long maintained dedicated springboards against our territory in Ukraine. It would have been completely irresponsible if we were to face such challenges,” Mr. Alipov said.

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