EAM Jaishankar slams sanctions, chokepoints disrupting global energy trade, holding prices hostage
S Jaishankar highlighted the challenges posed by disruptions in global oil supplies during the G20 meeting. He pointed out that the current energy crisis results from unpredictability and significant disruptions. Jaishankar emphasized the need for the G20 to ensure that energy markets remain open and predictable. He also mentioned India's efforts in critical minerals and the necessity for…
Washington: External Affairs Minister S Jaishankar criticized disruptions in global energy trade through sanctions and chokepoints, asserting that deliberate attacks on energy supply and infrastructure were a calculated tactic to maintain high prices. Addressing the G20 Foreign Ministers' Meeting in Atlanta, Jaishankar emphasized that the world is facing an energy crisis not due to a lack of production, but due to unpredictability, disruption, unaffordable costs, and access challenges.
He highlighted that the G20 must demonstrate both understanding and leadership to keep energy markets open and predictable. Jaishankar stressed that the increasing frequency, complexity, and widespread impact of disruptions due to obstacles, sanctions, and chokepoints are a matter of growing concern, particularly for low-income nations.
He criticized the selective distinctions between oil and gas and reiterated that the interconnected nature of the global market means that knock-on effects of disruptions should not be underestimated. Jaishankar reaffirmed India's need for reliable and predictable LPG supplies for its clean cooking initiatives and announced India's proposal for a G20 Critical Minerals Circularity Initiative, aiming to enhance access to finance and promote storage, small modular reactors, green hydrogen, and biofuels.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- 'Attack on energy trade, infrastructure a calculated move to hold prices hostage': Jaishankar hindustantimes.com
- EAM Jaishankar slams sanctions, chokepoints economictimes.indiatimes.com
