FTSE 100 today: Index rises, pound strengthens; Tullow Oil slumps, Hiscox rises
Investing.com -- India defended its oil imports from Russia on Monday, calling U.S. and European Union criticism "unjustified and unreasonable" following U.S. President Donald Trump’s decision to raise tariffs on the country.
"Like any major economy, India will take all necessary measures to safeguard its national interests and economic security," Foreign Ministry spokesperson Randhir Jaiswal said in a statement.
Jaiswal explained that India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. He noted that the U.S. had "actively encouraged such imports by India for strengthening global energy markets stability" at that time.
The Foreign Ministry added that India’s imports from Russia are intended to ensure predictable and affordable energy costs for Indian consumers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.