Will buy oil wherever best deal available: Indian envoy to Russia

Echoing Jaishankar, Kumar reiterated that “the US decision is unfair, unreasonable and unjustified”, adding that the Indian government will continue taking measures which will protect the national interest of the country.

“Trade takes place on a commercial basis. So if the basis of commercial transaction trade imports are right, Indian companies will continue buying from wherever they get the best deal. So that’s what the current situation is,” he was quoted saying by the TASS.

On Sunday, US Vice President J D Vance said President Donald Trump applied “aggressive economic leverage”, including “secondary tariffs on India” to force Russia to stop bombing Ukraine.

On being asked how the US was putting pressure on Russia to get to the table on the Ukraine war, Vance told NBC News, “Trump has applied aggressive economic leverage, for example, secondary tariffs on India, to try to make it harder for the Russians to get rich from their oil economy.”

Ambassador Kumar also clarified that Delhi and Moscow were not facing any issue with regard to payment for oil imports, which could be settled in national currencies.

“India and Russia are not experiencing any problems in payment for oil imports,” he said. “India and Russia have a working system of trade settlement in national currencies. There is no problem now in payment for oil imports.”

Trade between India and Russia, he said, is a bilateral relationship based on mutual interests. He said India is going to expand supplies of electronics, cars and building materials to Russia.

“Some of the important areas that we think we need to focus on and improve our exports are textiles and fashion products, construction materials, auto and automobile spare parts and components, also electronics and the entire set of electronics and IT related products. Also phones. Many of the top manufacturers are also manufacturing in India. We look forward to an increase in those areas also,” he said.

According to Kumar, trade between the two countries is growing. “India’s export to Russia has also grown. But it is still far below what it can be,” he said.

The US claims that India’s purchase of Russian crude oil is funding Moscow’s war in Ukraine, a charge Delhi rejects. Last Saturday, Jaishankar said, “It’s funny to have people who work for a pro-business American administration accusing other people of doing business… If you have a problem buying oil or refined products from India, don’t buy it. Nobody forces you to buy it. But Europe buys, America buys, so you don’t like it, don’t buy it.”

The Ministry of External Affairs (MEA) has also called the imposition of the secondary tariffs as “unfair, unjustified and unreasonable” and declared that India will take “all actions necessary to protect its national interests”.

Last month, Trump had also warned BRICS against what he called its “anti-Western agenda”. In his interview to TASS, Kumar said India will pay attention in the first instance to supporting the interests of the Global South countries during its presidency of BRICS in 2026. Notably, Brazil is the other BRICS country hit by the US penalty over Russian oil. Brazil’s President Luiz Inacio Lula da Silva has spoken to Prime Minister Narendra Modi on enhancing cooperation in trade.

“India, as the BRICS chair in 2026, will seek to leverage BRICS as a platform to reform global financial institutions, promote trade and investment, and advocate for the interests of the Global South,” Kumar said.

During Chinese Foreign Minister Wang Yi’s visit to India last week, the two sides agreed that the Chinese side will support India in hosting the 2026 BRICS Summit and the Indian side will support China in hosting the 2027 BRICS Summit.