Iran’s foreign minister Abbas Araghchi criticises US over reversing stance, says Washington now asks India and other countries to buy Russian crude oil
Table of contents
- Abbas Araghchi criticises US
- Araghchi Shares Post on X
- Financial Times Report on Russia’s Oil Income
- Earlier Pressure From the US
- Iran Conflict and Oil Market Volatility
- US Tries to Stabilise Oil Supplies
- Araghchi Criticises European Countries
- India’s Growing Role in Oil Trade
- Russia Gains From Rising Oil Prices
- Concerns About Global Economy
- Conclusion
Abbas Araghchi criticises US
Iran’s Foreign Minister Abbas Araghchi has strongly criticised the United States and the White House over what he called a major change in Washington’s policy on Russian oil. Araghchi said the US is now urging countries around the world, including India, to buy Russian crude oil even though it earlier pressured them to stop such imports.
Araghchi Shares Post on X
In his post, Araghchi said that the United States had spent months pressuring India and other countries to stop importing Russian oil. However, he claimed that the situation has now changed because of the current global energy crisis.
He wrote on X: “The US spent months on bullying India into ending oil imports from Russia. After two weeks of war with Iran, White House is now begging the world including India to buy Russian crude.
Europe thought backing illegal war on Iran would win US support against Russia.
Pathetic.”
Along with this message, Araghchi shared an image of a newspaper front page that reported a sharp rise in Russia’s oil earnings during the current crisis.
Financial Times Report on Russia’s Oil Income
The image posted by Araghchi showed the front page of the British newspaper Financial Times with the headline “Oil windfall gives Russia $150mn a day.”
The report said that rising oil prices caused by tensions in the Middle East have significantly increased Russia’s oil revenue. According to estimates, Russia is earning about 150 million dollars more every day from oil exports because of higher global prices.
The report also pointed out several important developments in the oil market.
Sales of Russian oil to Asian buyers such as India and China have increased. Oil prices have risen above 100 dollars per barrel because of tanker attacks and tensions in the Middle East. The crisis has tightened global oil supply and strengthened Russia’s position in international energy markets.
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Despite sanctions imposed by Western countries after the Russian invasion of Ukraine, Russia continues to export large amounts of crude oil, especially to Asian countries.
Earlier Pressure From the US
After the war in Ukraine started, the United States and its Western allies imposed sanctions on Russian energy exports. Washington also encouraged many countries to reduce or stop importing Russian crude oil in order to weaken Russia’s economy.
India was among the countries that faced diplomatic pressure from Western governments to reduce Russian oil imports. However, Indian officials repeatedly said that energy security and affordable fuel were important for the country’s economy.
Because Russian oil was available at discounted prices, India continued buying it. These lower prices helped Indian refineries manage costs and maintain stable fuel supplies.
Iran Conflict and Oil Market Volatility
The global oil market has become highly unstable after tensions between the United States and Iran increased. Military strikes and retaliatory attacks in the region have raised concerns about possible disruptions in oil supply.
One of the biggest concerns is the safety of the Strait of Hormuz, an important route for global oil shipments.
Nearly one fifth of the world’s oil transported by sea passes through this narrow waterway that connects the Persian Gulf to international markets. Any disruption in this route can quickly push oil prices higher.
Because of the ongoing conflict and reduced tanker movement in the region, oil prices have risen sharply in international markets. Reports said crude prices crossed 100 dollars per barrel during the crisis.
US Tries to Stabilise Oil Supplies
With global oil markets under pressure and prices rising quickly, the United States recently allowed certain shipments of Russian oil to continue temporarily.
The decision aimed to increase global oil supply and prevent further increases in fuel prices.
Reports suggested that the move could allow up to 100 million barrels of Russian crude already being transported to reach their destinations even though sanctions are in place.
However, this decision has been criticised by some European countries and Ukraine, which worry that easing restrictions may reduce pressure on Russia.
Iranian officials say this situation shows that the United States is still dependent on Russian oil supplies despite earlier efforts to isolate Moscow.
Araghchi Criticises European Countries
In his comments, Araghchi also criticised European governments.
He said European countries supported what he described as an illegal war against Iran because they believed that the United States would support them against Russia.
According to Araghchi, the current situation shows that this strategy has not worked because Washington is now easing restrictions on Russian oil in order to manage global supply shortages.
These remarks highlight the growing tensions between Iran and Western countries during the ongoing conflict in the Middle East.
India’s Growing Role in Oil Trade
India has become one of the largest buyers of Russian crude oil in recent years. Since 2022, Indian refineries have increased imports from Russia because the oil is often cheaper than supplies from other countries.
These discounted shipments have helped India control fuel costs and protect its energy security.
During the current crisis, experts believe Asian markets such as India and China will continue to play an important role in buying Russian oil exports.
Araghchi’s comments mentioning India show how important the country has become in the global oil market.
Russia Gains From Rising Oil Prices
Energy experts say Russia is one of the biggest beneficiaries of the current geopolitical crisis. When oil prices rise, Russia earns more money from its exports even if the amount of oil it sells stays the same.
The Financial Times report shared by Araghchi estimated that Russia’s earnings could increase by about 150 million dollars per day due to the rise in oil prices.
This development makes it more difficult for Western countries to weaken Russia’s economy through sanctions.
Concerns About Global Economy
The ongoing conflict in the Middle East and rising oil prices are also creating concerns about the global economy.
Continued disruptions in energy supply could lead to higher fuel prices, rising inflation and slower economic growth in many countries.
If oil prices continue to rise sharply, the world could face another period of economic uncertainty.
Governments and international organisations are closely watching the situation as tensions in the region continue.
Conclusion
The comments made by Iran’s Foreign Minister Abbas Araghchi have drawn attention to the growing tensions in global energy politics during the Middle East conflict.
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By accusing the United States of urging countries including India to buy Russian oil despite earlier pressure to stop imports, Araghchi highlighted what he sees as a major change in Washington’s energy policy.
As the conflict continues and oil prices remain unstable, discussions about sanctions, global oil supply and energy security are likely to remain important issues in international politics and the global economy.
How to Stay Updated on Oil Price
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Follow trusted news websites: Financial Times, Reuters, Bloomberg, Times of India.
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Check social media, especially official posts from leaders.
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Use apps or websites like OilPrice.com or Investing.com for daily crude oil prices.
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Set alerts for “Russian oil price,” “Iran-US conflict,” or “global energy crisis.”
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Track India’s oil imports to understand global trends.
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Subscribe to energy market newsletters for insights on supply, sanctions, and oil trade.
FAQs
He said the US first pressured countries like India to stop buying Russian oil, but now it is asking them to buy it.
India and China are the main buyers of Russian oil, even though the US wanted them to reduce imports.
The US allowed some Russian oil shipments to continue temporarily to prevent global fuel prices from rising too high.
Military tensions in the Middle East, especially near the Strait of Hormuz, make oil supply uncertain, pushing prices higher.
India buys discounted Russian crude, which helps control fuel costs and ensures stable energy supply for the country.
Estimated reading time: 7 minutes
khushisikarwar is an award-winning journalist and content creator who thrives on telling stories that matter. As a key contributor to Newsisland, [she] focus on cultural commentary, providing readers with thought-provoking insights.
