India's Energy Purchases Guided By Markets, National Interest: MEA On Donald Trump's Penalty For Buying Oil From Russia

New Delhi: The Ministry of External Affairs (MEA) on Friday stated that the India–United States relationship weathered various transitions and challenges, emphasising that both nations share a comprehensive global partnership founded on mutual interests, democratic values, and strong people-to-people ties.

"India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties. This partnership has weathered several transitions and challenges. We remain focused on the substantive agenda that our two countries have committed to and are confident that the relationship will continue to move forward," said MEA spokesperson Randhir Jaiswal.

Regarding the 25% tariff and penalty announced by US President Donald Trump, the MEA noted that the Government of India has already stated its position, which was also reiterated by Union Commerce Minister Piyush Goyal.

Addressing India’s energy requirements, MEA spokesperson Randhir Jaiswal affirmed that the country’s energy purchases are governed by market dynamics and national interests.

When asked about reports suggesting that some Indian oil companies have halted purchases of Russian oil, Jaiswal said, “You are aware of our broad approach to energy sourcing. We assess availability in the market along with the prevailing global situation. We are not aware of any specific developments.”

On the US sanctions imposed on Indian companies trading with Iran, Jaiswal stated, “We have taken note of the sanctions and are currently examining the matter.”

In response to a query about Donald Trump’s remark suggesting that India might purchase oil from Pakistan in the future, Jaiswal said, “I have no comments to offer on this matter.”

Donald Trump announces 25 per cent tariffs and penalty on Indian goods for buying Russian oil

Even as negotiations are underway between India and the United States to finalise a Bilateral Trade Agreement, US President Donald Trump announced two days ago that he would impose a 25% tariff along with an additional penalty on India for purchasing Russian oil.

Trump justified the decision by stating that the US conducts minimal trade with India, and the measure was aimed at balancing trade relations with New Delhi.

In response, the Government issued a strong statement, asserting that it would act in accordance with national interests.

A day after the government’s strong reply, Trump referred to India and its strategic partner Russia as “dead economies,” adding that he doesn’t care what the two nations intend to do together.

While the country largely united in dismissing Trump’s remarks about India’s economy, Leader of Opposition (LoP) and Congress politician Rahul Gandhi echoed Trump's sentiment, labelling the Indian economy as “dead”, a view that was not shared by many members of his own party.

As reactions to Trump’s statement continue, National Real Estate Development Council (NAREDCO) Conference Chairman Niranjan Hiranandani responded, saying, “India is currently the fastest-growing major economy in the world, with a GDP growth rate of 6.2% to 6.7%. There’s no question of the economy being weak or 'dead.' Political opposition is part of democracy, but facts matter.”

He added, “India is well on track to potentially reach double-digit GDP growth in the near future. Challenges remain, including global uncertainties and inflammatory comments made by leaders like President Trump. However, the Prime Minister’s call for Atmanirbhar Bharat is taking concrete shape. We are bolstering our position in defence, agriculture, manufacturing, and other key sectors. The goal is clear: India must become truly self-sufficient and no longer dependent on any other country.”