Shringla bats for Russian oil supplies to India
Former Rajya Sabha member and external affairs committee chair Harsh Vardhan Shringla has advocated for Russian oil imports to India to safeguard the nation's 1.4 billion residents and stabilize global energy costs. During a discussion at the Asia Policy Society Institute, Shringla highlighted the US sanctions India has encountered regarding energy imports.
Speaking alongside former Australian PM Kevin Rudd, Shringla mentioned the US trade impasse, with trade representative Jamie Schaefer stating no imminent conclusion and Finance Minister Nirmala Sitharaman noting the talks had plateaued. The impasse appears to stem from uncertainty over tariffs India would face. Shringla likened the situation to Damocles' sword, noting ongoing Section 301 investigations into forced labor, overcapacity, and the prospect of 100% duties under the Russian oil sanctions Act.
This underscores India's need to balance energy security with international sanctions. Shringla's points resonate amid US President Biden's unexpected announcement of a Russian diesel purchase after a call with Russian President Vladimir Putin.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
