India Voices Concern Over Tariffs on Russian and Iranian Oil at BRICS Meeting

India Voices Concern Over Tariffs on Russian and Iranian Oil at BRICS Meeting

New Delhi | May 14, 2026

India raised concerns over increasing tariff pressures and restrictive measures targeting Russian and Iranian oil during the ongoing meeting of the BRICS nations in New Delhi, emphasizing that “unjustifiable measures cannot substitute dialogue and diplomacy.”

Speaking during the ministerial discussions on Thursday, External Affairs Minister Subrahmanyam Jaishankar warned that economic pressure tactics and unilateral restrictions on energy trade risk destabilizing global markets and harming developing economies already facing inflation and energy insecurity.

Without directly naming any specific country, Jaishankar referred to growing concerns over tariffs, sanctions, and restrictions linked to Russian and Iranian oil exports. He stressed that energy security should not become a tool of geopolitical confrontation and called for greater international cooperation to maintain stability in global supply chains.

“Unjustifiable measures cannot substitute dialogue and diplomacy,” Jaishankar said during the BRICS discussions, adding that global challenges require negotiated solutions rather than coercive economic actions.

India, one of the world’s largest energy importers, has consistently maintained that access to affordable energy remains critical for economic growth and social stability in developing nations. Officials at the meeting indicated that disruptions in oil trade and rising transportation costs continue to affect emerging economies disproportionately.

The issue of Russian oil has remained sensitive in international diplomacy since Western countries imposed multiple sanctions and trade restrictions following the Ukraine conflict. Similarly, restrictions connected to Iranian oil exports have continued to influence global crude markets and shipping networks.

During the discussions, India reiterated that countries must retain the freedom to pursue energy policies based on national interests and economic requirements. Indian officials emphasized that dialogue and multilateral engagement remain essential for addressing disagreements over trade and energy flows.

The BRICS platform — comprising Brazil, Russia, India, China, and South Africa along with newer member countries — has increasingly focused on reducing vulnerabilities in global trade systems and strengthening cooperation among emerging economies.

Apart from energy concerns, the New Delhi meeting also addressed financial cooperation, trade settlements in local currencies, climate financing, food security, and reform of international institutions. India highlighted the need for a balanced global economic framework that protects developing countries from external shocks and political uncertainty.

Diplomatic observers noted that India’s remarks reflect its broader strategy of maintaining strategic autonomy while balancing relations with major global powers. New Delhi has repeatedly argued that geopolitical disputes should not disrupt essential economic sectors such as food, fuel, and fertilizer supplies.

The ongoing BRICS consultations are expected to continue over the coming days, with energy security and global trade emerging as key themes ahead of the leaders’ summit later this year.