Kultaranta: India received unexpected backing from Finland over its purchase of Russian oil, with Foreign Minister Elina Valtonen stating that New Delhi’s imports were in line with the Western-imposed oil price cap introduced after Russia’s invasion of Ukraine.
Speaking at the Kultaranta Talks, where External Affairs Minister S Jaishankar and UAE Assistant Foreign Minister Lana Nusseibeh also participated, Valtonen said the price cap was never intended to ban Russian crude purchases but to ensure continued supply while limiting Moscow’s profits. She added that India had acted within this framework.
🇫🇮 FINLAND FOREIGN MINISTER DEFENDS INDIA FOR BUYING RUSSIAN OIL
• "Let us remind ourselves. When we introduced the oil price cap, we did not prohibit the world from buying Russian oil. In India's defence, it has bought oil under the price cap. That was the intention." https://t.co/dcfjkH7emq pic.twitter.com/nXAWlCxE1F
— SilentFrame (@SilentFrameM) June 12, 2026
Jaishankar strongly defended India’s energy policy, saying oil purchases are driven by “cost and availability.” He noted that global energy flows shifted after the 2022 sanctions on Russia, forcing countries to adjust sourcing as Europe absorbed much of the Middle East supply traditionally used by India.
He further said the United States had, at the time, encouraged India to buy Russian oil to stabilise global markets, adding that “no great principle” was being selectively applied in criticism of India.
On European criticism over the Ukraine conflict, Jaishankar said countries that supply weapons globally should consider their positions carefully, stressing that India has not threatened Europe’s security.
He also highlighted shifting energy ties, stating Russia is now India’s largest oil supplier and the US its largest gas supplier, reflecting changing global energy dynamics and India’s diversified sourcing strategy.
