India Saturday forcefully rejected Washingtons criticism that it is running a quotprofiteering schemequot by buying discounted Russian crude oil with External Affairs Minister S Jaishankar asserting that New Delhis procurement has been in national and global interest. Jaishankar emphatically said that India will continue to take decisions on the matter independently and suggested that the previous US administration was supportive of New Delhis procurement of Russian energy as it stabilises the oil market. quotIts funny to have people who work for a pro-business American administration accusing other people of doing businessquot Jaishankar said. quotThats really curious. If you have a problem buying oil or refined products from India dont buy it. Nobody forces you to buy it. But Europe buys America buys so you dont like it dont buy itquot he said. His comments at the Economic Times World Leaders Forum came when asked about US officials criticising India on its energy ties with Russia. White House Trade Adviser Peter Navarro said on Wednesday that India is running a quotprofiteering schemequot by using discounted Russian crude oil and then selling refined petroleum products at premium prices in Europe and other places. He made similar allegations earlier as well. The external affairs minister also wondered why the same yardstick is not being used for China the largest importer of Russian crude oil. quotThe same arguments which have been used to target India have not been applied to the largest oil importer which is China. It has not been applied to the largest LNG importer which is the European Unionquot he said. quotAnd when people say we are funding the war or putting money in the coffers of President Vladimir Putin the Russia-European Union trade is bigger than India-Russia trade. So is Europe not putting money into Putins coffersquot he asked. Jaishankar acknowledged that Indias procurement of Russian crude oil has gone up in the last few years and noted that it is driven by national interests. quotThats our right. In my business we would say thats what strategic autonomy is aboutquot he said. quotWe are buying Russian oil to stabilise the oil market. Yes it is in our national interest. We have never pretended otherwise but we also say it is in global interest.quot India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022. Consequently from a mere 1.7 per cent share in total oil imports in 2019-20 Russias share increased to 35.1 per cent in 2024-25 and it is now the biggest oil supplier to India. In his remarks Jaishankar said there were discussions between New Delhi and the previous administration in Washington on the procurement of Russian crude oil. quotThere were a series of very explicit conversations saying we have no issues with your buyingquot he said and referred to the G7 price cap on Russian crude oil. quotThe fact that you devised the price cap meant that you accept that theres an oil trade going on with Russia. Otherwise you wouldnt need a price cap.quot quotIn 2022 there was deep nervousness because oil prices were going up. There was great international nervousness about the price of oil. And there was a set of conversations with different people in the American administration at that timequot Jaishankar said.