Concerns Regarding Global Energy and Trade Issues
External Affairs Minister S. Jaishankar said that global supply chains are on the decline while energy markets are contracting further. He added that the world is encountering huge challenges, such as competition for technology and natural resources. Trade in the energy sector, he said, is on the decline because of unstable market conditions.
Comments Regarding Selective Implementation of Policies
Jaishankar implicitly criticized the Trump administration for imposing trade regulations unevenly. He added that certain countries impose regulations on other countries but fail to meet the same standards. His remarks were made in the context of a meeting with U.S. Senator Marco Rubio, where both exchanged views on the bilateral relationship between India and the United States.
Criticism of U.S. Approach Toward Russian Oil Purchases
Jaishankar informed that the United States has a double policy when it comes to Russian oil. He said Washington deals with every nation differently as far as purchasing energy from Russia is concerned. He informed that regulations are being applied selectively and those who preach ethics do differently in practice.
Tariffs and Diplomatic Pressure on India
The Trump administration has imposed a tariff of 25 percent on India for its purchase of Russian oil and is pushing New Delhi to stop these imports. No such action has, however, been taken against China or European nations that are still importing Russian oil. Jaishankar pointed out this disparity while giving his address at the ASEAN summit.
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