India’s Shifting Energy Landscape

India, which imports over 85% of its crude oil needs, ⁤traditionally sourced the majority from Middle Eastern ‌nations. However, since 2022, the country has ⁤substantially increased ⁢its purchases of Russian crude, capitalizing ⁤on lower prices resulting from Western sanctions imposed on moscow following the invasion of Ukraine as reported by Dawn.

This shift ​has ​drawn scrutiny, wiht some ⁢US officials​ reportedly suggesting that ​India is inadvertently ⁤fueling Russia’s war ⁣effort. According to a Dawn report, Trump’s aides have accused India of helping Russia, estimating that ‍India’s purchases account for as much as 50%‌ of Russia’s crude oil⁢ exports.

Increased US⁢ Energy Cooperation

India is actively seeking to diversify its energy sources, and cooperation with the United States is a key component of this strategy. “Ensuring stable energy prices and secured supplies ​have been the​ twin goals‍ of our​ energy policy,” stated India’s Petroleum and Natural Gas Secretary,​ Pankaj Jain,​ in a recent interview. “This includes broad-basing our energy⁣ sourcing and diversifying as appropriate to ⁤meet market conditions.”

Jain further noted that energy procurement from the US has been steadily increasing over the last decade,⁣ and the current governance has expressed interest in deepening energy⁣ cooperation. Discussions between ​the ⁣two countries are ongoing.

Data on India’s Crude ⁣Oil Imports

The ​following table illustrates India’s ‌crude oil ⁤import sources ‌(data ⁣as of December 2023, ‍approximate):