'Russian Oil Supplies To India Have Increased': Sergey Lavrov Makes BIG Statement On Bilateral Trade

Moscow: Russian Foreign Minister Sergey Lavrov, who visited India for the BRICS Summit, made a significant statement regarding the growing oil trade between India and Russia. Lavrov explicitly stated that the supply of crude oil from Russia to India has increased and that there is "nothing secret" about it. He noted that these are entirely public figures, which Russia itself has consistently released.

What did Sergey Lavrov say?

Speaking at a press conference, Lavrov said, "These are not secret data or figures. We ourselves have published them, and oil supplies to India have indeed increased." His statement comes at a time when Western nations have been continuously pressuring India regarding its purchase of Russian oil.

However, according to recent reports, a slight decline was recorded in India's imports of Russian oil during the month of April. According to data from the Finnish think-tank CREA (Centre for Research on Energy and Clean Air), India purchased approximately 4.5 billion euros worth of oil from Russia in April—a figure representing a decline of about 15 percent compared to March. In March, this figure stood at around 5.3 billion euros.

What about trade between India and Russia?

Despite this, Russia remains one of India's largest suppliers of crude oil. It is believed that this decline in imports is temporary and is attributable to factors such as refinery maintenance and operational adjustments.

India has consistently maintained that its energy policy is guided by national interests and the need for affordable fuel. India has repeatedly clarified that it procures oil with the needs of its citizens and its economy in mind. The discounted oil sourced from Russia has proven to be highly beneficial for India.

Following the conflict in Ukraine, Western nations imposed various sanctions on Russia; nevertheless, Russia has expanded its energy trade with Asian nations—particularly India and China. Consequently, the global balance of oil trade appears to be shifting rapidly. Lavrov's statement is being interpreted as an indication that Moscow intends to further strengthen its energy partnership with India in the future.