EAM S Jaishankar pointed out that there was a stress on the international energy markets

Buying oil from Russia works to India’s advantage, External Affairs Minister S Jaishankar said on Tuesday, adding that he would “like to keep that going”.

The comment came during a press briefing following his talks with Russian Foreign Minister Sergey Lavrov in Moscow. EAM Jaishankar is on a two -day visit to Russia, his first to the country since the beginning of the Ukraine conflict in February this year.

Responding to a question on imports of Russian oil, EAM Jaishankar pointed out that there was a stress on the energy markets.

"This is a stress that has been created by a combination of factors, but as the world’s third-largest consumer of oil and gas — a consumer without a high level of income — our fundamental obligation is to ensure that Indian consumers have the best access on the most advantageous terms to international markets," he said.

“And in that respect quite honestly, we have seen that the India-Russia relationship has worked to our advantage. So if it works to my advantage, I’d like to keep that going,” he went on to say.

India's oil imports from Russia went up significantly after the Ukraine conflict began.

In his statement to the media after meeting his Russian counterpart, EAM Jaishankar emphasized that India and Russia have "a longstanding partnership that has served both countries very well over many decades".

This partnership covers a range of practical cooperation in fields like trade, investment, energy, commodities etc. as well as sensitive domains like defence, space and nuclear, he added.

Talking about their discussions, he said they "exchanged views on the international situation from our particular perspectives and vantage points. Obviously, the Ukraine conflict was a dominant feature".

EAM Jaishankar recalled what Prime Minister Modi conveyed to President Putin in Samarkand in September, that 'this is not an era of war'.

"The global economy is simply too inter-dependent for a significant conflict anywhere, not to have major consequences elsewhere. We are seeing growing concerns on energy and food security from the conflict that are coming on top of severe stresses created by two years of Covid," he explained.

EAM Jaishankar also discussed recent trends in the sub-continent, including that of countries having experienced serious economic difficulties.

"There are other factors of instability as well. Terrorism, including its cross-border manifestation, remains a major concern. Where the Indo-Pacific is concerned, both our nations have stakes in its progress and prosperity," he stated.

In his opening remarks during the meeting, India's External Affairs Minister said that the last few years of the Covid pandemic, financial pressures and trade difficulties had taken a toll on the global economy.

"We are now seeing the consequences of the Ukraine conflict on top of that. There are also the more perennial issues of terrorism and climate change, both of which have a disruptive impact on progress and prosperity. Our talks will address the overall global situation as well as specific regional concerns," he had said

He emphasised that India and Russia interact with one another in a world that is becoming more "multi-polar and re-balanced" and that their relationship is remarkably "steady and time-tested."