India received unexpected support from Finland over its continued imports of Russian crude, with Finnish Foreign Minister Elina Valtonen saying New Delhi had operated within the framework of the oil price cap introduced by Western countries following Russia’s invasion of Ukraine.

Speaking during a panel discussion at the Kultaranta Talks in Finland alongside External Affairs Minister S. Jaishankar and UAE Assistant Foreign Minister Lana Nusseibeh, Valtonen said the mechanism imposed by Western nations was never intended to completely halt Russian oil exports.

“In India’s defence, it has bought oil under the price cap. That was the intention,” Valtonen said, arguing that the objective of the policy was to ensure stability in global energy supplies while limiting Russia’s profits.

The remarks came as Jaishankar strongly defended India’s energy strategy and dismissed criticism over New Delhi’s continued purchases of Russian crude since the outbreak of the Ukraine conflict.

Finland Says Price Cap Was Not Meant To Halt Trade

Valtonen said the Western oil price cap was designed to prevent disruptions in global markets rather than prohibit countries from purchasing Russian oil altogether.

“When we introduced the oil price cap, we did not prohibit the world from buying Russian oil. The entire idea was not to disrupt the oil market but to make sure oil continued to be supplied while Russia did not make massive margins from it,” she said.

Her remarks are likely to bolster India’s longstanding argument that its purchases have remained within the framework created by Western countries themselves.

The comments came during a broader discussion on geopolitics and energy security, where Jaishankar defended India’s approach by emphasising that energy decisions are driven by practical considerations rather than political alignments.

“I buy oil based on cost and availability,” the external affairs minister said.

Jaishankar Highlights Shifts In Global Energy Markets

Jaishankar said the global energy landscape changed dramatically after sanctions were imposed on Russia in 2022, forcing countries to adapt to changing supply patterns.

He noted that Europe had increased purchases from the Middle East, traditionally India’s key source of crude, leaving Russia as one of the most readily available suppliers.

“At that point of time, much of the oil available in the market was from Russia because Europeans were buying up the Middle East oil, which was our traditional supplier. Circumstances pushed us in a certain direction,” he said.

Jaishankar also pointed to what he described as contradictions in Western positions on Russian energy, claiming that the United States had encouraged India to buy Russian oil to help stabilise global markets.

“Let’s not pretend some great principle is involved here,” he said.

Strong Response To European Criticism

During the discussion, Jaishankar also delivered a sharp response to criticism from parts of Europe over India’s position on the Russia-Ukraine conflict.

“European countries sell weapons that have been used to attack India for many years. We Indians have never done anything to endanger Europe. So keep that in mind,” he said.

The minister also highlighted the changing nature of India’s energy mix, noting that Russia had become India’s largest supplier of crude oil, while the United States had emerged as the country’s biggest supplier of natural gas, replacing Qatar earlier this year.

“Our relationship with the Gulf is not only related to oil,” Jaishankar said, underscoring India’s efforts to diversify energy sources while maintaining ties with multiple partners.

Valtonen’s intervention is expected to strengthen India’s position in the ongoing debate over Russian energy exports and the broader geopolitical consequences of the Ukraine conflict, even as Western countries continue to tighten pressure on Moscow.

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