India’s purchase of Russian oil received unexpected support from Finland, with Finnish Foreign Minister Elina Valtonen saying that New Delhi had acted within the rules set by Western countries after the Russia-Ukraine war.
Speaking at the Kultaranta Talks in Finland, where External Affairs Minister S Jaishankar was also present, Valtonen said the oil price cap introduced by Western nations was never meant to stop countries from buying Russian oil completely.
“In India’s defence, it has bought oil under the price cap. That was the intention,” Valtonen said.
She explained that the aim of the price cap was to keep oil supplies stable while limiting Russia’s profits, not to disrupt the global energy market.
The remarks came as Jaishankar strongly defended India’s decision to continue buying Russian oil. He said India’s energy policy is based on cost and availability rather than political considerations.
“I buy oil based on cost and availability,” Jaishankar said.
He pointed out that after sanctions were imposed on Russia in 2022, European countries increased purchases from the Middle East, forcing India to look for alternative suppliers.
“At that time, much of the oil available in the market was from Russia because Europeans were buying up the Middle East oil, which was our traditional supplier. Circumstances pushed us in a certain direction,” he said.
Jaishankar also said that the United States had encouraged India to buy Russian oil to help stabilise global markets.
“At that time, the US specifically asked India to buy Russian oil to stabilise the oil market. Let’s not pretend some great principle is involved here,” he said.
During the discussion, Jaishankar also responded sharply to criticism from some European countries over India’s foreign policy.
“European countries sell weapons that have been used to attack India for many years. We Indians have never done anything to endanger Europe. So keep that in mind,” he said.
The External Affairs Minister also rejected suggestions that India was moving away from Gulf countries.
He said Russia is currently India’s biggest oil supplier, while the United States has become its largest gas supplier, replacing Qatar earlier this year.
“Our relationship with the Gulf is not only related to oil,” Jaishankar said.
Finland’s remarks are likely to strengthen India’s position that its purchases of Russian oil have remained within the framework created by Western countries themselves, even as debate over Russia’s energy exports and the Ukraine conflict continues.
