Energy trade principles applied selectively, says S Jaishankar at East Asia summit

External Affairs Minister S Jaishankar on Monday stated that energy trade was becoming “increasingly constricted” and that “principles are applied selectively”, while speaking at the East Asia Summit in Kuala Lumpur.

In a speech delivered hours after he met United States Secretary of State Marco Rubio, Jaishankar also said that “what is preached is not necessarily practised”.

The meeting between Jaishankar and Rubio came against the backdrop of New Delhi and Washington holding talks to finalise a trade deal.

Tensions between the two countries had escalated after the Donald Trump administration on August 6 doubled the tariffs on goods imported from India to 50% for purchasing Russian oil amid the war in Ukraine.

Trump has repeatedly alleged that India’s imports were “fuelling the war machine”.

After the “reciprocal” levies were announced, New Delhi had said it was “extremely unfortunate” that the US had chosen to impose additional tariffs on India “for actions that several other countries are also taking in their own national interest”.

On Monday, Jaishankar stated that in the current times, “there are growing concerns about the reliability of supply chains and access to markets”.

“Technology advancement has become very competitive, the quest for natural resources even more so,” he said. “But change has a life of its own. And the world will inevitably respond to new circumstances.”

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