Western countries criticizing India over its import of Russian crude while exempting themselves from “illegitimate actions” reflects unprincipled position and double standards, Russian Ambassador to India Denis Alipov said on Sunday.
“Those in the West who criticise India not just slyly keep silent about the fact that they themselves actively buy Russian energy resources exempting them from their own illegitimate sanctions, but in doing so explicitly demonstrate their unprincipled position and double standards while claiming otherwise,” Alipov said in an interview with Press Trust of India.
India has not yet criticised the Russian attack on Ukraine and has been maintaining that the crisis should be resolved through dialogue.
While historically, Russia has not been a major source of fossil fuels for India but the imports of discounted Russian crude oil over the last few months has seen a significant increase in Indian imports from Russia.
The ambassador also noted that there was no impact of Western sanctions against Moscow on India-Russia trade and said the trade volume in the first six months of this year alone recorded a turnover of $11.1 billion, adding that both nations will reach a historic record for trade volumes by year-end.
Payment system for crude oil trade
Alipiv said trade between India and Russia has been on an upswing and both sides have several payment systems in place and that there is an option even of using currencies of third countries with certain “partners” in Asia and in the Middle East offering viable choices.
“Recently the Reserve Bank of India issued a special circular, which extends the use of Rupee in international trade. It is yet another step to support the option for the trading community to exercise invoicing, paying and settling operations in national currencies,” Alipov said.
Commenting on Western sanctions, the Russian ambassador said the side effects were “miscalculated, both politically and economically.”
He added, “The rise of fuel and food prices has triggered galloping inflation worldwide, and even developed economies risk falling into recession.”
