US won’t let Iran hold energy market hostage, Rubio tells India's Modi

The US will not let Iran hold the energy market “hostage,” Secretary of State Marco Rubio told Indian Prime Minister Narendra Modi during their meeting in India on Saturday, adding that US energy products can diversify India’s needs.

“Secretary Rubio met today with Indian Prime Minister Narendra Modi in New Delhi. The Secretary underscored the strategic importance of the US-India partnership, rooted in our shared democratic values, profound economic and commercial opportunity, and the strong personal ties between President (Donald) Trump and Prime Minister Modi,” a statement by US State Department spokesperson Tommy Pigott said.

According to the statement, on behalf of Trump, Rubio extended an invitation to Modi to visit the White House. During the meeting, the two discussed the current situation in the Middle East.

Rubio told Modi that the US “will not let Iran hold the global energy market hostage and affirmed that US energy products have the potential to diversify India’s energy supply.”

Notably, India has resumed oil purchases from Iran this year after a seven-year hiatus following the US move to lift sanctions on Tehran’s oil exports amid the ongoing conflict in the Middle East, which has disrupted energy supplies around the world.

The two officials agreed to deepen trade and defense cooperation and accelerate collaboration on critical and emerging technologies, the statement said.

They also “reflected upon recent bilateral achievements, including significant investments that advance the President and Prime Minister’s ‘Mission 500’ to double trade by 2030,” according to the statement.

In an interview with CNN-News18, Rubio said the issue surrounding Russian oil purchases was not about India. “It was about a desire to impose a cost on Russia because of the war in Ukraine, and India just happens to be a big purchaser, but it was never aimed at India per se.”

“There’s been some new dynamics in place nonetheless since that time…, We’ve also seen an opportunity for India to continue ... its plan … to diversify its energy sources. And that includes the United States and potentially some other countries like Venezuela. So we want to continue to be a good partner in that regard,” he added.

“I don’t think that issue is going to feature very prominently in the future, because India was already moving towards diversification, and so as I said – and hopefully the war in Ukraine will end.”

Rubio said defense field would be one of the key areas that “we can build our partnership and our relationship,” adding that “joint production” between the US and India regarding the defense industry “would be ideal because India has tremendous capacity.”