‘Hold Energy Prices Hostage’: Jaishankar Criticises Sanctions, Chokepoints Disrupting Oil Supplies

News india ‘Hold Energy Prices Hostage’: Jaishankar Criticises Sanctions, Chokepoints Disrupting Oil Supplies

Last Updated:November 01, 2026, 07:52 IST

Jaishankar said the world faces an energy crisis driven not by a shortage of production but by unpredictability, supply disruptions, unaffordable costs, and barriers to access.

External Affairs Minister S Jaishankar has criticised the use of sanctions and strategic chokepoints to disrupt global oil supplies, warning that deliberate attacks on energy trade and infrastructure were a calculated strategy to hold prices hostage.

Speaking at the G20 Foreign Ministers’ Meeting in Atlanta on Friday, Jaishankar said the world faces an energy crisis driven not by a shortage of production but by unpredictability, supply disruptions, unaffordable costs, and barriers to access. His remarks came amid US sanctions on Iranian oil sales, disruptions to energy supplies from West Asia and the decision to lift sanctions on Russian diesel sales.

In a post on X, Jaishankar said he had highlighted how deliberate attacks on energy trade and infrastructure were being used 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 also flagged the growing frequency, complexity, and wider impact of energy-market disruptions caused by obstacles, sanctions, and chokepoints. He said there appeared to be little regard for the difficulties faced by low-income countries.

Jaishankar further pointed to what he described as convenient distinctions being made between oil and gas. “Selective carve-outs speak for themselves," he said, adding that the knock-on effects and mutual dependence in a globalised market should not be underestimated.

He also reiterated India’s need for reliable and predictable LPG supplies to meet its clean cooking requirements.

On critical minerals, Jaishankar said India’s National Mission covers the entire value chain, from exploration to recycling. He added that India had proposed a G20 Critical Minerals Circularity Initiative.

The minister also called on the G20 to expand access to finance and promote storage, small modular reactors, green hydrogen and biofuels.

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