The larger the fish, the deeper the net, this saying fits the US perfectly. America tries to trap the world in its web. But India replied every time by putting eyes in America’s eyes and said that you have no right on our Forex Reserve. US White House State Advisory Peter Navaro said that the Reserve Bank of India i.e. RBI should use the US dollar reserve lying with it only by asking America. Especially do not use these dollars to buy oil from Russia at all. But this time India did not silence. Former Foreign Secretary of India Kanwal Sibal gave such a befitting reply that Washington’s senses were shocked.
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Actually, Peter Navaro recently wrote an article in the financial time and targeted India. He said that America has a $ 40 million trade surplus with India. This money is deposited in RBI’s Foreign Reserve and India is using this dollar to buy oil from Russia. Navaro clearly stated that the US wants India to put its dollars at the same work which is approved by the residents. However, this is not the first time. In the 1960-70 era, this US also tried to dictate Germany in a similar way. At that time, the US told Germany that your central bank also has dollars and can neither use it to buy gold nor for business from any third country. You can use it only and only in business with America.
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Today, America wants to use the same old trick on India. In an interview with CNBC, US Finance Minister Scott Besant said that China’s dependence on Russian crude oil has increased marginally compared to New Delhi’s rapid growth. Besant said that let’s go back and see history. China’s imports are very low. But if you look at the figures before 2022, 13% of the oil of China was already coming from Russia. Now it is 16%. Therefore, China has diverse oil input.
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Former India Foreign Secretary Kanwal Sibal recently targeted US Finance Minister Scott Besant on social media. Besant defended Washington’s decision to impose additional duty on India on oil imports from Russia, while not taking any such step on China. He said in a post on social media that Besant is actively contributing to stressing with India. And that too based on false facts. He also stated that China’s dependence on Russian crude oil is more than a marginal, which is contrary to Besant’s statement. Chinese crude oil imports from Russia during 2024 were US $ 62.59 billion. In July 2025, China was the largest importer of Russian oil, followed by India and Turkey. At the end of his article, Sibal also mentioned that the Power of Siberia pipeline operated by Gazprome transports gas from East Siberia to China. He further stated that Gazprom is a major component of Russia’s energy strategy and is an important source of gas supply for China.