Atlanta: External Affairs Minister S. Jaishankar on Friday strongly disapproved of disruptions in global oil supplies through sanctions and chokepoints, telling the G20 Foreign Ministers' Meeting that deliberate attacks on energy trade and infrastructure were a calculated strategy to hold prices hostage, the Press Trust of India (PTI) reported. In a post on X, Jaishankar said he had highlighted exactly that point at the meeting, adding: "The G20 must display both understanding and leadership to keep energy markets open and predictable."
Source: PTI via The Hindu BusinessLine
The minister said the world was staring at an energy crisis not of production, but of unpredictability and disruption, unaffordable costs and challenges of access. He emphasised that energy markets were being distorted through obstacles, sanctions and chokepoints with increasing frequency, greater complexity and wider impact, and that there appeared to be little regard for the predicament of low-income countries. Convenient distinctions were being drawn between oil and gas, he said: "Selective carve-outs speak for themselves."
Source: India Today via Dainik News Live
India is among the world's largest importers of oil, LNG and fertiliser, so every disruption at a chokepoint such as the Strait of Hormuz lands directly in Indian fuel, cooking-gas and farm-input prices.
Jaishankar's remarks came amid American sanctions on the sale of Iranian oil, disruption to energy supplies from West Asia and the decision to lift sanctions on the sale of Russian diesel, PTI reported. The two-day meeting in Atlanta, convened by US Secretary of State Marco Rubio, runs from October 30 to 31, with energy security, supply chains and keeping sea lanes open at the top of the agenda, IANS reported. Jaishankar is also attending a Quad foreign ministers' meeting on the sidelines.
Source: IANS via hi INDiA
On India's own energy agenda, Jaishankar reaffirmed that the country needs reliable and predictable LPG supplies for its clean cooking needs. He reiterated that India's National Mission on Critical Minerals covers the entire process from exploration to recycling, and said India has proposed a G20 Critical Minerals Circularity Initiative. The G20 must also widen access to finance and support progress in energy storage, small modular reactors, green hydrogen and biofuels, he said.
From Atlanta, Jaishankar is scheduled to travel on to Antigua and Barbuda for the Commonwealth Heads of Government Meeting, IANS reported. The Atlanta gathering is a preparatory step for the G20 leaders' summit scheduled for December in Miami.