‘Energy trade constricted, rules applied selectively': Jaishankar's veiled ...

Ensuring “stable prices and secured supplies.” President Trump recently claimed Prime Minister Narendra Modi had assured him India would stop buying Russian oil, a statement India has denied.

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The United States last week sanctioned two Russian oil companies, Rosneft and Lukoil, in a move expected to discourage Indian refiners from procuring Russian crude.

Rubio said India had already expressed interest in diversifying its oil portfolio. “If they diversified their portfolio, the more they buy it from us, the more they'll buy it from someone else” he said, adding that he would not “prejudge or negotiate trade deals.”

At the East Asia Summit, Jaishankar said uneven trade practices and supply disruptions were eroding confidence in global systems. “There are growing concerns about the reliability of supply chains and access to markets. Technology advancement has become very competitive; the quest for natural resources even more so,” he said.

The minister also warned that ongoing global conflicts were deepening disruptions in food and energy security. “We are witnessing conflicts that have significant repercussions, near and far. Deep human suffering apart, they undermine food security, threaten energy flows and disrupt trade,” he said.

India, he added, supports peace efforts in Gaza and an early end to the conflict in Ukraine. On terrorism, Jaishankar said the world must adopt a policy of “zero tolerance”. “Our right of defence against terrorism can never be compromised,” he asserted.