West’s criticism of India for importing Russian oil shows its double standards: Russian Ambassador Denis Alipov

Indian criticism by Western countries over the import of Russian crude oil while freeing themselves from “their illegal sanctions” is a reflection of their unin -principle and double standards, said Russian Ambassador Denis Alipov on Sunday.

In an exclusive interview with PTI, the messenger said that trade between India and Russia had risen and both parties had several payment systems on the spot and that there were options and even used a third country currency with certain “partners” in Asia and in the Middle East offering choices worthy.

Historically, Russia has not been the main source of fossil fuels for India but Russian crude oil imports have seen a large increase in the last few months, despite the increasing anxiety in many western capitals.

People in the West who criticize Indians not only cunningly remain silent about the fact that they themselves actively buy Russian energy resources that freed them from their own illegitimate sanctions, but thus explicitly showed their unprofitable and standard positions Double while claiming the opposite, “Alipov said.

The ambassador said Europe had “completely lost” its independent voice while “calming” US power ambitions, and now trying to maintain its economic welfare while triggering an increase in energy prices for the whole world. “For what reason, India must pay for it,” Alipov asked.

The ambassador also suggested that there was no impact of Western sanctions on Moscow in Indian-Russian trade and said the trading volume in the first six months of this year alone recorded a turnover of USD 11.1 billion (one billion = 100 crores), which used to be around USD 13 billion on 2021.

We have a reason to believe that at the end of this year we will reach historic records, and that is not only because of a large -scale hydrocarbon supply that has grown more than 10 times,” he said.

Speaking of several payment systems for bilateral trade, Alipov said one of them used the national currency, adding the volume of trading national currencies amounting to more than 40 percent in recent years.

This is the new reserve of the Bank of India issuing a special circular, which expands the use of rupees in international trade. This is another step to support options for the trading community to carry out invoices, pay and complete operations in national currencies,” Alipov said.

Secondly, there is a mechanism for using a third country currency with options that are worth offered by our partners in Asia and in the Middle East. We also see great potential in the formation of Brits International Reserve Funds,” he sai

Alipov said the Russian company and bank, which were not approved, could still be involved in economic activities using dollars and US euros

The ambassador said that there was “extraordinary potential that opened in trade in Russia with” large spaces “to be empty after the withdrawal” from many Western companies for political reasons.

Alipov said there was an increase in interest from Russia and India to further diversify trade ties that took advantage of “opportunities that emerged”.

The goal as a whole is to complete their respective economic strategies because our two countries aim to increase the level of independence and want to explore new markets facilitated by sustainable transaction mechanisms and financial logistics, “he said.

In the procurement of Indian oil from Russia, Alipov said New Delhi consistently stated that his approach was based on its national interests and reflected the growing economic needs of India and the welfare of its people.