India to Raise Issue of ‘Spillovers’ of Anti-Russia Sanctions During G-20 Presidency

 / Go to the mediabankIndia’s Prime Minister Narendra Modi attends a meeting of the BRICS heads of state on the sidelines of the Group of 20 (G20) leaders summit in Osaka, Japan / Go to the mediabankRishikesh KumarSanctions slapped on Moscow over its special operation in Ukraine have triggered fuel and food insecurities across the Global South, with countries like India and China – among the largest energy consumers – declining to follow suit. In contrast, both Delhi and Beijing have even ramped up oil imports from Russia to ensure national energy needs.New Delhi will “definitely” raise the issue of “spillovers” of Western sanctions against Russia after it assumes the presidency of the G-20 on December 1, Indian Finance Minister Nirmala Sitharaman said on Tuesday.India is “constantly, very carefully” maintaining its independent position and trying to raise the voices of emerging markets and low-middle income nations, despite facing “collateral spillovers” in the wake of the current geopolitical tensions.

“Yes, it [the sanctions – ed.] has moved from one milepost to another. You hear less of some; you hear more of another. You hear about probabilities of newer such things coming in. So, these are all spillovers of decisions. Those will definitely have to be discussed,” Nirmala Sitharaman said.

Speaking at an event in New Delhi, the minister said that issues like proposed reforms of multilateral institutions, taxation, and debt distress will be raised during India’s presidency.”Development goals must be achieved in a sustainable manner. The way in which development is financed should not trap a country,” the Indian minister emphasized.WorldRussia Becomes India’s 7th Biggest Trading Partner With 441% Jump in Oil, Fertilizer Supplies21 October, 08:43 GMTIn an interview with foreign media on Monday, India’s Oil Minister Hardeep Singh Puri said there is no “moral conflict” in buying Russian oil, while Delhi bears a moral duty to its citizens in ensuring regular energy supplies, “whether petrol or diesel.”He added that oil prices would go up to $200 per barrel if India or someone else did not buy Russian oil.As for Western proposals of capping the price on Russian oil, India will respond according to the country’s “supreme national interest,” the minister added.Russia became India’s second-largest oil supplier following Iraq in September, constituting around 18 percent of the total oil imports.

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