Latest news with #Randhir Jaiswal
Times of Oman
2 days ago
- Business
- Times of Oman
"There should be no double standards, especially in energy trade": MEA on EU sanctions
New Delhi: India has responded to recent sanctions announced by the European Union, stating that it does not subscribe to any unilateral sanction measures and emphasising the importance of avoiding double standards, especially in the domain of energy trade. In response to media queries on the issue, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said, "We have noted the latest sanctions announced by the European Union. India does not subscribe to any unilateral sanction measures." "We are a responsible actor and remain fully committed to our legal obligations," Jaiswal said. The spokesperson further underlined that the Government of India considers the provision of energy security a critical responsibility. "Government of India considers the provision of energy security a responsibility of paramount importance to meet the basic needs of its citizens. We would stress that there should be no double standards, especially when it comes to energy trade," he added. The remarks align with the External Affairs Ministry's response on Thursday to NATO chief Mark Rutte's comments on potential secondary sanctions over Russian oil, stressing that securing India's energy needs is an "overriding priority" and decisions are driven by "available offers" and "prevailing global circumstances." The Ministry of External Affairs further cautioned against "double standards" on the matter. Addressing a press conference in the national capital, MEA spokesperson Randhir Jaiswal said, "We have seen reports on the subject and are closely following the developments. Let me reiterate and I have said this in the past as well that securing the energy needs of our people is, understandably, an overriding priority for us. In this endeavour, we are guided by what is available in the markets, as well as by the prevailing global circumstances." "We would particularly caution against any double standards on the matter," the MEA Spokesperson said. The NATO Secretary General had in his recent remarks asked India, China, and Brazil to reconsider their purchase of oil from Russia or face the prospect of "100 per cent secondary sanctions". Rutte echoed the position taken by US President Donald Trump, who earlier this week threatened severe tariffs on countries maintaining trade with Russia. "My encouragement to these three countries, particularly, is that if you live now in Beijing or in Delhi, or you are the President of Brazil, you might want to take a look at this because this might hit you very hard," Rutte had said. The NATO chief had also urged India and the other countries to "make the phone call to Vladimir Putin and tell him that he has to get serious about peace talks" with Ukraine. "because otherwise this will slam back on Brazil, on India and on China in a massive way."
Times of Oman
2 days ago
- Business
- Times of Oman
De-dollarisation not on BRICS agenda, India reaffirms stance
New Delhi: India reiterated on Thursday that de-dollarisation was not on the agenda of the BRICS grouping, and member countries, including India, were only looking at cross-border payments in local currencies. "We had a highly successful BRICS the joint statement, there are several aspects that have been fleshed out that strengthen the BRICS platform," MEA Official Spokesperson Randhir Jaiswal told reporters at a weekly media briefing here. "De-dollarisation is not something which is on the agenda. Cross-border payments, yes, BRICS have talked about local currencies, but de-dollarisation is not something that is there on the agenda," the MEA spokesperson said. The concept of dedollarisation, which the US administration, particularly the current Trump presidency, sees as a threat to the US dollar's dominance has gained currency in the recent past. In late 2024, Trump, then the US President-elect, threatened the BRICS nations, including India, with 100 per cent tariffs and called for a clear commitment from these countries to refrain from creating a currency or supporting any other currency to replace the US dollar. Trump's statement followed a reported proposal by Russian President Vladimir Putin to create a new investment platform for BRICS countries during the BRICS summit in Kazan in October. After the latest BRICS summit in Brazil, Trump had warned that any country aligning itself with the "Anti-American policies of BRICS" will face an additional 10 per cent tariff on goods. On its part, India has initiated rupee-denominated trade with a few countries and, understandably, is in close coordination with several others to fructify such mechanisms. Further, the MEA spokesperson in his press briefing today providing an update on the India-US bilateral trade agreement front, said that both sides were in touch, but stopped short of hinting any timeline. "Negotiations are on. Both sides are in touch with each other, they are trying to iron out issues. Once we have a conclusion of the agreement, we will obviously make it public," Jaiswal said. A high-level team from Commerce and Industry Ministry arrived in Washington DC, earlier this week for talks. India and the US need to narrow down differences in some sectors and are seeking a win-win pact for both sides. The Trump administration has deferred imposing additional tariffs on several countries, including India, till August 1, with the two sides now having additional time to negotiate a deal beyond the initial deadline of July 9. India and the United States have agreed to expand bilateral trade to reach USD 500 billion by 2030, including through the conclusion of a Bilateral Trade Agreement. Trump hinted on Wednesday (local time) that a long-awaited trade deal with India may be reached soon. "We have another one (deal) coming up, maybe with India... We're in negotiation," President Trump told reporters. Meanwhile, the MEA spokesperson Jaiswal also touched upon the impending India-EU FTA. "The talks are progressing very well. The last round - the 12th round - happened in Brussels from July 7-11, and the next round of talks is scheduled to be held in September in New Delhi," he said. The FTA is expected to be finalised by this year's end.
