‘Why single out India?’: Piyush Goyal slams double standards on Russian oil; questions Germany, UK for seeking exemptions from US sanctions
Commerce minister Piyush Goyal has hit out at the Western nations double-standards on Russian oil, questioning Germany and UK’s reported move seeking exemptions from US sanctions.
Speaking at the Berlin Global Dialogue Goyal stressed on India’s independent trade policies, firmly saying that the country will not sign any trade deal at ‘gun point’.
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When questioned about securing a sustainable trade agreement with conditions, Goyal emphasised that India's selection of international partners is solely guided by national interests. He said that external pressures attempting to restrict India's relationships with any country are unacceptable.
"The decision to buy a particular product from a country is something that the entire world will have to take a call on," he said.
Goyal spoke of the ongoing international situation, pointing out Germany's request for exemption from US sanctions on Russian oil, and the UK's apparent request for similar exemptions, questioning why India faces scrutiny in similar circumstances.
Also Read | India-US trade deal soon? ‘Very near’ to concluding agreement - government official shares big update; 'no new hurdles...'
"I was reading in today's paper, Germany is asking for an exemption from US sanctions on oil...The UK already has sorted or probably got an exemption for procuring oil from the US…," he said.
When Chris Bryant, the UK Minister of Trade tried to justify that exemptions were sought for a subsidiary firm of Rosneft, Goyal pointed out that India too had a subsidiary of the same firm. “Why single India out…,” Goyal questioned.
These discussions hold particular significance, following the Donald Trump administration's implementation of a 50% tariffs on Indian exports, including a 25% additional import levy on Russian crude oil purchases. In response to high tariffs, India is exploring alternative markets.
Talking about trade agreements, Goyal said that India is in active discussions with both the EU and US.
"...But we do not do (trade) deals in a hurry and we do not do deals with deadlines or with a gun to our head," he firmly said, further noting that India's decisions are never rushed or made impulsively.
US President Donald Trump has announced sanctions on Russia's leading oil corporations, Open Joint Stock Company Rosneft Oil Company (Rosneft) and Lukoil OAO (Lukoil), alleging their financial support of the Kremlin's "war machine" in Ukraine.
Furthermore, the European Union has enacted a prohibition on importing fuels manufactured from Russian crude oil, effective January 2026.
Also Read | Trump’s sanctions on Russian oil: How Reliance, Nayara Energy earnings will be hit - explained
‘Seeking To Hyphenate Too Many Issues’: Goyal On EU Trade Regulations At Berlin Global Dialogue
When questioned about securing a sustainable trade agreement with conditions, Goyal emphasised that India's selection of international partners is solely guided by national interests. He said that external pressures attempting to restrict India's relationships with any country are unacceptable.
"The decision to buy a particular product from a country is something that the entire world will have to take a call on," he said.
Goyal spoke of the ongoing international situation, pointing out Germany's request for exemption from US sanctions on Russian oil, and the UK's apparent request for similar exemptions, questioning why India faces scrutiny in similar circumstances.
Also Read | India-US trade deal soon? ‘Very near’ to concluding agreement - government official shares big update; 'no new hurdles...'
"I was reading in today's paper, Germany is asking for an exemption from US sanctions on oil...The UK already has sorted or probably got an exemption for procuring oil from the US…," he said.
When Chris Bryant, the UK Minister of Trade tried to justify that exemptions were sought for a subsidiary firm of Rosneft, Goyal pointed out that India too had a subsidiary of the same firm. “Why single India out…,” Goyal questioned.
These discussions hold particular significance, following the Donald Trump administration's implementation of a 50% tariffs on Indian exports, including a 25% additional import levy on Russian crude oil purchases. In response to high tariffs, India is exploring alternative markets.
Talking about trade agreements, Goyal said that India is in active discussions with both the EU and US.
"...But we do not do (trade) deals in a hurry and we do not do deals with deadlines or with a gun to our head," he firmly said, further noting that India's decisions are never rushed or made impulsively.
US President Donald Trump has announced sanctions on Russia's leading oil corporations, Open Joint Stock Company Rosneft Oil Company (Rosneft) and Lukoil OAO (Lukoil), alleging their financial support of the Kremlin's "war machine" in Ukraine.
Furthermore, the European Union has enacted a prohibition on importing fuels manufactured from Russian crude oil, effective January 2026.
Also Read | Trump’s sanctions on Russian oil: How Reliance, Nayara Energy earnings will be hit - explained
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