"I'm waiting for your thanks": S Jaishankar on the softness in Indian oil markets- CMB College

“I’m waiting for your thanks”: S Jaishankar on the softness in Indian oil markets

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What did S Jaishankar say on global oil prices?

The External Affairs Minister said that India’s approach to oil procurement prevents a rise in global oil prices, thereby preventing potential competition with Europe in the market. He elaborated, “When it comes to buying, I think global oil prices have gone up because we went to the same oil suppliers in the same market, which were supplied from Europe. We found that Europe has will have to pay a higher price than. us.”

Acknowledging India’s importance in global markets, S Jaishankar said, “We saw that traditionally in LNG markets a lot of supply from Asia was diverted to Europe.” “I can get some respect.” He said there are many smaller countries that have not even received a response to their tenders in Paris because LNG suppliers are no longer interested in dealing with them. “They have bigger fish,” said External Affairs Minister S Jaishankar.

‘Our interest in relations with Russia’

Referring to India’s stance on the Russia-Ukraine war, S Jaishankar spoke about the balance between principles and interests. “We have seen how people talk hard about principles…but their interests are different. In this particular case, we have a very powerful interest in maintaining our relationship with Russia,” he said. Let us tell you that S Jaishankar said this at the Royal Over-Seas League Club in London during his five-day visit to Britain.

Meanwhile, the External Affairs Minister also emphasized India’s important role in reforming global organizations like G20 and BRICS. “We are part evolutionist and part revolutionary,” he said. He also emphasized India’s strong position in the emerging global scenario. Journalist Lionel Barber asked S Jaishankar, “How do you see India’s role in trying to reform or create alternatives to global institutions of governance after 1945?”

‘We are part evolutionist and part revolutionary’

To this question, External Affairs Minister S Jaishankar replied, “We are partly evolutionary, partly revolutionary. We want change without too much disruption.” Barber also said that “it has become almost conventional wisdom to say that this is India’s most important moment.” In response, the foreign minister said, “I would say there is a momentum because there is a certain process that we are in the middle of at the moment.”

S Jaishankar also discussed India’s many major recent achievements, including the “Covid response to economic transformation, recapitalization of banks, efforts to boost exports, renewed business confidence, socio-economic transformation and widespread adoption of digital technologies.” “Includes formal adoption.”

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