India against unilateral sanctions, but likely to limit Russian oil imports, Pg10.

Key Highlights:

• The US and EU have imposed new sanctions on Russia, impacting India's energy security and economic interests.
• India traditionally opposes unilateral sanctions, but is likely to reduce Russian oil imports due to economic and strategic considerations.
• The EU's 18th sanctions package prohibits imports of petroleum products refined from Russian crude through third countries.
• Secondary sanctions target third countries or entities maintaining relations with Russia.

Detailed Insights:

• India has historically opposed unilateral sanctions, citing its own experiences in 1974 and 1998 after nuclear tests.
• Despite its stance, India previously complied with US sanctions on Iran, reducing oil imports to zero.
• Russia has been circumventing sanctions through international procurement networks and a "shadow fleet" of tankers.
• The G7 and EU are focusing on preventing sanctions evasion and closing loopholes, targeting individuals and entities in third countries.
• India faces a dilemma due to sanctions from strategic partners US and EU against its other strategic partner, Russia.
• Economic factors and strategic relations with the US will likely drive India's decision to cut down on Russian oil imports.

Key Concepts Involved:

• Unilateral Sanctions: Sanctions imposed by one country on another, without the backing of an international body like the UNSC.
• Secondary Sanctions: Measures targeting third parties to dissuade them from dealing with a sanctioned entity.
• Energy Security: A nation's ability to ensure a reliable and affordable supply of energy to meet its needs.