India's procurement of crude oil at lowest price from Russia furthering G7 approach: U.S.
The Hindu
Geoffrey R. Pyatt said that there is "no contradiction at all" in India remaining one of the key global partners of the United States and the country's increasing procurement of discounted Russian crude oil
By driving a hard bargain with Russia in procuring crude oil at the lowest price possible, India is furthering the policy of G7 nations to reduce Russian oil revenues and Washington is comfortable with New Delhi on issues relating to energy security, a top Biden administration official has said.
Assistant Secretary of State for Energy Resources Geoffrey R. Pyatt told PTI in an exclusive interview that there is "no contradiction at all" in India remaining one of the key global partners of the United States and the country's increasing procurement of discounted Russian crude oil.
The comments are seen as the first such clear articulation of the Biden administration's position on India's increasing procurement of discounted crude oil from Russia.
Mr. Pyatt, during his February 16-17 visit to New Delhi, said India is a critical partner for the U.S. on everything around energy transition and both sides are looking at an array of options to significantly expand the collaboration, including in the areas of green hydrogen and civil nuclear energy.
"Our experts assess that India right now is enjoying the discount of about USD 15 a barrel in the price that it is paying for its imports of Russian crude. So by acting in its own interest, by driving a hard bargain to get the lowest price possible, India is furthering the policy of our G7 coalition, our G7 plus partners in seeking to reduce Russian revenues," Mr. Pyatt said.
"I think that is how we look at this. We have a very good dialogue with the government of India on these issues," he added.
"But I think what is very important for everybody to understand is that this is not a temporary state of affairs. There is going to be no return to business as usual with Russia as long as Vladimir Putin continues to choose this course of aggression," Mr. Pyatt said.
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