Stressing India’s “global influence,” Zelenskyy suggested that India could help end Moscow’s war in Ukraine by halting the oil trade that significantly funds the Russian military.
“You can stop Vladimir Putin “And stop their economy and really put it in its place,” Zelenskyy told members of the Indian media on Friday evening in kyiv, referring to his meeting with Modi earlier in the day.
“India’s role… if oil imports are stopped, Putin will have enormous challenges…” he said.
Addressing the media before Zelenskyy’s press conference, External Affairs Minister S. Jaishankar mentioned that the Indian side had explained the country’s oil trade with Russia.
“…what we did was to explain to the Ukrainian side what the energy market scenario was, the fact that today many energy producers are under sanctions, which makes the market potentially very tight; and why actually today there is an obligation, in fact not just an obligation, I mean why it is in the interest of the international economy as a whole, that oil prices remain reasonable and stable,” Jaishankar said, adding, “…India is a big consumer of oil. It is a big importer of oil because we don’t have oil. Now, it is not as if there is a political strategy to buy oil. There is an oil strategy to buy oil. There is a market strategy to buy oil. So, the numbers of where we get our oil imports go up and down. It depends on the state of the market. But definitely… I think the fact that the market is tight, that today big suppliers like Iran and Venezuela, who used to supply India, are constrained to operate freely in the markets, I think that is a factor that needs to be taken into account.” India has now emerged as the top buyer of Russian oil. Oil, overtaking China, was India’s largest importer of crude in July, accounting for a record 44% of total imports and reaching 2.07 million barrels per day (bpd), up 4.2% from June and 12% higher than a year ago, according to a Reuters report.
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