Syed Akbaruddin
In recent days, senior members of the Trump administration have made a strange accusation against India. Writing in the Financial Times on Aug. 18, Peter Navarro, the White House counselor for trade and manufacturing, claimed that India’s “Big Oil Lobby” was profiteering on discounted Russian crude, selling it to Europe, and “shielding India from sanctions scrutiny.” U.S. Treasury Secretary Scott Bessent echoed that view in an interview with CNBC on Aug. 19, saying that “India is just profiteering … which is unacceptable.”
Yes, refined Russian crude is reaching Europe. It comes through multiple routes, including Turkey and India. But Europe’s imports from India come mainly from just two private companies, not public sector ones. These are business decisions, not acts of state. Calling them the conduct of India confuses private commerce with national policy.
No comments:
Post a Comment