New Delhi, April 7 (Representative) India and Russia have been trying to stabilize the bilateral economic relationship post the developments in Ukraine, and there has been no talk of increasing the economic engagement with Moscow, a top official said on Thursday. Amid vocal concerns expressed by the West, notably the US, over India’s continuing economic engagement with Russia despite the sanctions, Ministry of External Affairs spokesperson Arindam Bagchi also stressed that political colouring should not be attributed to New Delhi’s actions – reiterating External Affairs Minister S Jaishankar’s statement in Parliament yesterday. Bagchi said during the bilateral meeting with visiting Russian Foreign Minister Sergey Lavrov last week the two sides were trying to see how to keep the economic relationship stable amidst the western sanctions. “We have an established economic relationship with Russia. Post the developments in Ukraine, there is an effort by both sides to ensure that this economic relationship remains stable; and that is why we are saying stabilizing– we are not talking about increasing at all,” he said.
“But because we have an economic relationship that exists and it is in our interest to make sure that some of this economic activity continues, and we are trying to see how we can keep that stable.” Referring to the statement of US Deputy NSA Daleep Singh, he said, “the issue of whether it is consequences or disappointment or perspectives of other countries” was dealt with the EAM in his reply in parliament. “We have been very open about the economic relationship with Russia, and on the need to stabilise it given the difficulties; that’s pretty clear regarding our position,” the spokesperson said. He also said that European countries are continuing to purchase energy from Russia. “Let me emphasise that energy flows to Europe are continuing, fertiliser purchases have been insulated. There are such other examples also. So I will rely on what the EAM said: political colouring should not be attributed to our actions,” he added. The EAM, in his reply in Parliament yesterday, had said: “The conflict in Ukraine has had significant consequences for the global economy and for our national economy. Like all other countries, we too are assessing the implications and deciding what is best for our national interest. Members are aware that in a complex and globalized world, every nation takes into account the reality of inter-dependence.
Therefore, even as they express their positions in words and deeds, they also adopt policies that safeguard the well-being of their population. “As a result, we have seen even in Europe that energy flows continue, despite tensions. Similarly, a conscious effort was made to insulate the fertilizer market from volatility. There are numerous other measures in different domains, including financial and payment carve-outs. Even non-essential goods that have salience for individual economies have been factored in the equation. So, what should India then do in these circumstances?” “At a time when energy costs have spiked, clearly we need to ensure that the common person in India is not subject to an additional and unavoidable burden. Similarly, fertilizer prices have a direct implication for the livelihood of the majority of our population. And indeed, for food prices for all of us. Even the security of the nation is at stake, as we maintain our defence posture in the manner that the current security challenges warrant. “All these, Speaker Sir, are legitimate pursuits of national interest by India. They are similar to what other nations are doing from their particular perspective. Attributing a political colouring to it is uncalled for, it is unfair. I do not even wish to get into which country is doing how much. Eventually, the numbers will speak for themselves.”