S. Jaishankar asserted that India’s purchase policies played a key role in the global oil market. India's external affairs minister said New Delhi's policy helped stabilise the global oil and gas market amid the Russia-Ukraine war. Jaishankar said, We actually managed global inflation. I’m waiting for the thank-you. While the West imposed sanctions, India continued to buy discounted Russian oil. Almost the whole West initially pressured India to stop buying crude from Russia. However, India refused to cut ties with Russia and chose to focus on its national interests.
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