If Europe is exempt, why is India targeted? Minister Piyush Goyal speaks on oil trade.

New Delhi. India’s Commerce Minister Piyush Goyal questioned why Western countries are only targeting India, while European countries themselves are demanding discounts on Russian oil from the US. He said, “Germany is demanding discounts, Britain has already received discounts, so why is India being targeted?”

Goyal made this remark at the Berlin Global Dialogue in Germany, where he was sharing the stage with British Trade Minister Kemi Badenoch. When Badenoch said the discounts were only for a branch of the Russian company Rosneft, Goyal replied, “We also have a branch of Rosneft.”

This statement comes as the US and its allies are pressuring India to reduce its purchases of cheap oil from Russia. Last month, the US increased taxes on goods imported from India by nearly 50 percent. India has called this unfair.

The US says that if India stops buying oil from Russia, it will increase pressure to end the Russia-Ukraine war. The European Union has also imposed sanctions on three Indian companies, citing their ties to the Russian military. This week, the US also targeted two major Russian oil companies, Rosneft and Lukoil, and imposed new sanctions.

Goyal said that India does not make any decisions in haste or under pressure. “We make deals when we feel it’s right for the country. If someone taxes us, let them—we are trying to expand trade in new countries and are focused on remaining strong for the long term,” he said.

He explained that India’s goal is to become a $30 trillion economy in the next 20–25 years. “We make decisions with an eye to the future and always make the best deal for the country,” Goyal said.

He also said that India’s policy is based solely on its national interest. “India never decides on friendship or trade at anyone’s behest. If someone says don’t work with Europe or Kenya, that will not be acceptable,” he said.

Goyal said, “Trade is not just about taxes or markets; it’s based on trust and relationships.” India is currently negotiating new trade agreements with the United States and Europe. India and the United States aim to increase trade between the two countries to $500 billion by 2030.

Finally, Goyal said that India’s economy stands on a strong foundation. We have 1.4 billion energetic youth, and we are moving forward without any pressure.