India has announced that it will not be purchasing liquefied natural gas (LNG) from Russia’s Arctic LNG 2 project, which has been sanctioned by Western countries. The project, owned by Russia’s Novatek, aims to produce nearly 20 million metric tons of LNG per year for Asian markets. However, earlier this year, the U.K., U.S., and EU imposed sanctions on the project.
According to Indian Oil Secretary Pankaj Jain, India will not be buying any sanctioned commodity, including Arctic LNG 2. This decision comes as India has been developing closer economic and diplomatic ties with Moscow since 2022, with bilateral trade reaching a record high in 2023. However, India has also been strengthening its relationship with Ukraine, with Prime Minister Narendra Modi visiting Kyiv in August, the first Indian prime minister to do so in over 30 years.
Modi’s visit to Ukraine came just weeks after his trip to Moscow, where he met with Russian President Vladimir Putin. The visit was marked by a widely criticized hug between the two leaders on July 8, hours after Russia bombed the Okhmatdyt children’s hospital in Kyiv.
The decision not to purchase LNG from Arctic LNG 2 is a clear indication of India’s stance on sanctions and its commitment to maintaining strong relationships with both Russia and Ukraine. However, it remains to be seen how this decision will impact India’s energy needs and its relationship with Russia in the long term.
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