'Calculated strategy': Jaishankar slams energy trade disruptions at G20 meet
What's the story
External Affairs Minister S Jaishankar has condemned the disruption of global oil supplies through sanctions and chokepoints. His comments came at the G20 Foreign Ministers' Meeting in Atlanta on Friday. The meeting was chaired by United States Secretary of State Marco Rubio. Jaishankar said these deliberate attacks on energy trade and infrastructure are a "calculated strategy to hold prices hostage."
Energy crisis
Energy crisis of unpredictability and disruption
The minister said the world is facing an energy crisis of unpredictability and disruption, with unaffordable costs and access challenges.
He emphasized that these distortions are happening more frequently, with greater complexity and wider impact.
Jaishankar also pointed out that low-income countries seem to be largely ignored in this scenario.
G20 leadership
Need for reliable LPG supplies in India
Jaishankar stressed that the G20 must show understanding and leadership to keep energy markets open and predictable.
He also spoke about the need for reliable LPG supplies in India for clean cooking needs.
The External Affairs Minister reiterated India's National Mission on critical minerals, which includes exploration and recycling efforts.
Mineral initiative
Proposed G20 Critical Minerals Circularity Initiative
Jaishankar also proposed a G20 Critical Minerals Circularity Initiative at the meeting.
He stressed that the G20 should expand access to finance and promote storage, small modular reactors, green hydrogen, and biofuels.
The minister's remarks come amid ongoing American sanctions on Iranian oil sales and disruptions to energy supplies from West Asia.