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Foreign Minister S Jaishankar In US


'Oil prices back us': Foreign Minister S Jaishankar in the US

New Delhi:

Today, India expressed concern about the pressures related to the purchase of oil at an affordable price, and raised questions regarding Russia’s oil price cap, set by the G7 (Group of Seven nations). development industry) proposed. At a meeting with US Secretary of State Antony Blinken, Foreign Minister S Jaishankar said, “We are a $2,000 per capita economy. We are concerned about oil prices. Oil prices are turning against us. This is our great concern,” reported ANI news agency.

Speaking to the press after the meeting, Mr Jaishankar said the two sides had a “short discussion” on price caps and that the oil issue for developing countries was a matter of deep concern. . “We are working with our partners so that oil revenue does not fuel the Ukraine war,” Blinken said at a joint press conference.

The G7 proposed a cap with the idea of ​​limiting Russia’s revenue from oil sales as part of sanctions against the country. The Biden administration is trying to resist an enforcement push to keep Russian oil on the global market. The countries of the European Union are trying to reach an agreement on the controversial issue, which is facing resistance from some member states.

For countries like India, the big concern is where the price cap is set. Since the invasion of Ukraine and subsequent sanctions on Russia, India has been the second-largest buyer of Russian oil after China, at a large discount that Moscow offers.

“You have to understand that over the past two months, the energy market has been under enormous pressure. Countries in the global south have had a hard time competing for limited energy resources, not just climbing prices. ladder but also in terms of supply capacity,” Mr Jaishankar told reporters.

“Our concern right now is that the already tense energy market must calm down. We will assess any situation by how it affects us and other countries … there is a very, very deep concern among developing countries about how their energy security needs are addressed or not,” he added.

Mr. Jaishankar is on a visit to the US for bilateral consultations with several ministers, including Mr. Blinken. He then said the discussion was about political coordination and an assessment of global and regional challenges.

During bilateral talks today, the US reiterated Prime Minister Narendra Modi’s comment on the Ukraine conflict – that “this is not the age of war”. Citing comments during the discussion, Mr Blinken said, “We couldn’t agree more.”

Earlier today, Mr. Jaishankar had discussions with US Defense Secretary Lloyd Austin at the Pentagon.

Pointing out China’s position in the Indo-Pacific region, Mr. Jaishankar said, “I share with you that the global situation has become much more difficult this year (due to) many reasons, especially the Indo-Pacific region”.



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