To be able to meet its national priorities amidst the supply chain disruptions due to the West Asia conflict, India is focused on securing its energy needs from diversified sources, the Ministry of External Affairs (MEA) has said.
“Our energy security, what it is predicated on, is meeting our national priorities, which is securing the needs of our 1.4 billion people," MEA spokesperson Randhir Jaiswal said. “This remains the cornerstone of our energy security approach. And this is what we want to achieve through diversified sources. We want to source our energy through diversified sources," he told journalists in answer to a query,” he added.
The MEA’s statement comes on the heels of a legislation passed by the US Senate authorising the US President Donald Trump to impose tariffs of up to 100 percent on goods exported by top buyers of Russian oil, which includes India. Western countries view these oil imports funding Russia’s war machine against Ukraine.
Jaiswal added: “As far as tariffs are concerned, talks are ongoing between the United States and India on a bilateral trade agreement.”
After the war broke out in the Gulf on February 28, India has diversified its crude oil import sources from 27 nations to 41 countries. The US-Israel-Iran war has disrupted the Strait of Hormuz that witnessed one-fifth of the world’s crude oil and gas supplies.
