S Jaishankar addressed a G20 Foreign Ministers' Meeting convened by US Secretary of State Marco Rubio, emphasizing that today's energy crisis stems from unpredictable distribution and artificially constrained access rather than insufficient production. He warned that deliberate infrastructure attacks, chokepoints, and sanctions weaponize markets and disproportionately harm low-income nations. To remedy these imbalances, the minister highlighted India's domestic requirement for reliable LPG supplies to fuel clean cooking programs. He also urged the G20 to expand project finance while backing advanced green technologies and India's proposed critical minerals circularity framework.
Key points
Global energy volatility is driven by geopolitical disruptions and trade obstacles rather…: Global energy volatility is driven by geopolitical disruptions and trade obstacles rather than an underlying shortage in fuel production.
Sanctions and artificial chokepoints threaten global market dependencies and place an unf…: Sanctions and artificial chokepoints threaten global market dependencies and place an unfair economic burden on low-income countries.
India has proposed a G20 Critical Minerals Circularity Initiative alongside investments i…: India has proposed a G20 Critical Minerals Circularity Initiative alongside investments in green hydrogen, biofuels, storage, and small modular reactors.
Sources checked by our analysis pipeline: 1
Washington: External Affairs Minister S Jaishankar strongly disapproved of disruptions in global oil supplies through sanctions and chokepoints, saying deliberate attacks on energy trade and infrastructure were a calculated strategy to hold prices hostage.
Jaishankar's remarks at the G20 Foreign Ministers' Meeting in Atlanta on Friday came amid American sanctions on the sale of Iranian oil and disruption to energy supplies from West Asia and the decision to lift sanctions on the sale of Russian diesel.
The minister said that the world was staring at an energy crisis not of production, but of unpredictability and disruption, unaffordable costs, and challenges of access.
Jaishankar, in a post on X, said he highlighted that deliberate attacks on energy trade and infrastructure were a calculated strategy to hold energy prices hostage.
"The G20 must display both understanding and leadership to keep energy markets open and predictable," he said at the meeting convened by US Secretary of State Marco Rubio.
The minister emphasised that continuous distortions of energy markets through obstacles, sanctions and chokepoints were happening with increasing frequency, greater complexity and wider impact.
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