Finland FM defends India’s Russian oil purchases, says imports were within price cap rules – Firstpost

Finland’s Foreign Minister Elina Valtonen has defended India’s purchase of Russian oil, saying New Delhi had acted within the framework of the oil price cap introduced by Western countries following Russia’s invasion of Ukraine.

Speaking at an event in Finland, Valtonen said that the price cap was never intended to completely ban countries from buying Russian crude.

BREAKING: 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..” pic.twitter.com/SVnEtokadI

— Shashank Mattoo (@MattooShashank) June 12, 2026

“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,” Valtonen added.

The remarks came as External Affairs Minister S Jaishankar strongly defended India’s energy imports from Russia, arguing that New Delhi’s decisions were driven by cost, availability and global market realities rather than geopolitics.

Speaking at the same event, Jaishankar said India began increasing purchases of Russian crude in 2022 because it was available at lower prices and because Western sanctions had reshaped global energy flows.

“At that time, the US specifically asked India to buy Russian oil to stabilise the oil market,” Jaishankar said.

He said after the US imposed sanctions on Russia following the Ukraine conflict, European countries turned increasingly to Middle Eastern oil supplies, traditionally India’s primary source of crude imports.

“At that point of time, much of the oil available in the market was from Russia because Europeans were buying up the Middle East oil, which was our traditional supplier. Circumstances pushed us in a certain direction,” he said.

Responding to questions about India’s position on the Russia-Ukraine conflict, Jaishankar rejected criticism that New Delhi had been overly sympathetic to Moscow.

“I buy oil based on cost and availability. So at that point in time, much of the oil available in the market was Russian because Europeans were essentially buying oil from the Middle East, which was our traditional supplier. So circumstances pushed us in a certain direction,” he said.

With inputs from agencies