India To Buy Oil Where It Is Beneficial - Envoy

(Tass) India will buy oil where it will benefit the country, Ambassador of India to Russia Vinay Kumar told Russia's TASS in an interview.

"First of all, we have clearly stated that our objective is energy security of 1.4 billion people of India and India's cooperation with Russia as of several other countries has helped to bring about stability in the oil market, global oil market. So the US decision is unfair, unreasonable and unjustified. Now government will continue taking measures which will protect the national interest of the country. And the trade takes place on commercial basis. So if the basis of commercial transaction trade imports are right, Indian companies will continue buying from wherever they get the best deal. So that's what the current situation is," the Ambassador said.

The trade between India and Russia is a bilateral relationship based on the mutual interests, the diplomat noted. "Our trade is based on market factors and done with the overall objects of ensuring the energy security of 1.4 billion people of India. There are other countries including the US itself and in Europe trading with Russia," the Ambassador added.

On August 6, the United States increased tariffs on imports of Indian goods by 25% (to 50%) because the country is buying Russian oil and oil products. The Indian Ministry of External Affairs said that the rhetoric of the US and the EU regarding Russian oil imports is unjustified.