Team Blitz India
NEW DELHI: External Affairs Minister S Jaishankar asserted that India’s purchase policies played a key role in stabilising the global oil and gas markets amid the Russia-Ukraine war, thereby helping manage global inflation.
During a conversation with journalist Lionel Barber titled ‘How a Billion People See the World’ in London, Jaishankar said: “So we’ve actually softened the oil markets and the gas markets through our purchase policies. We have, as a consequence, actually managed global inflation …I’m waiting for the thank you,” Jaishankar said.
Jaishankar emphasised upon India’s strategic approach to oil purchases that worked as a crucial factor in preventing a potential spike in global oil prices. “When it comes to the purchase…I think the global oil prices would have gone higher because we would have gone into the same market to the same suppliers that Europe would have done and as we discovered Europe would have outpriced us,” he explained.
