Kuala Lumpur, Oct 27 (NationPress) External Affairs Minister (EAM) S Jaishankar stated that energy trade is becoming increasingly limited, leading to market distortions, and emphasized that principles are applied selectively, with what is preached not necessarily being practiced.

While presenting India’s national statement at the 20th East Asia Summit (EAS) in Kuala Lumpur, EAM Jaishankar remarked, "We convene at a time of complexity. Concerns are growing about the reliability of supply chains and market access. The race for technology has intensified, as has the quest for natural resources. Energy trade faces increasing restrictions, resulting in market distortions. Principles are applied selectively, and what is advocated is not always enacted."

He added, "However, change has its own momentum. The world will inevitably adapt to new realities. Adjustments will take place, new calculations will emerge, fresh understandings will be established, and resilient solutions will be created. Ultimately, the realities of technology, competitiveness, market size, digitization, connectivity, talent, and mobility cannot be overlooked. Multipolarity is not just a fleeting concept; it’s here to grow. All these elements necessitate serious global discussions," he asserted.

Jaishankar’s remarks come amid rising global concerns regarding the tariffs imposed by Washington. In September, US President Donald Trump enforced a 50% tariff on Indian goods, citing alleged unfair trade practices and India’s refusal to cease the import of Russian crude oil. India has justified its acquisition of Russian oil as vital for maintaining affordable supplies and ensuring energy security for its citizens.

During his statement, EAM Jaishankar, representing Prime Minister Narendra Modi at the Kuala Lumpur Summit, also advocated for a swift resolution to the conflict in Ukraine and endorsed the Gaza peace initiative. "We are witnessing conflicts that have far-reaching implications. Beyond the profound human suffering, they jeopardize food security, threaten energy supplies, and disrupt trade. India, therefore, welcomes the Gaza peace initiative and seeks an early resolution to the conflict in Ukraine," he stated.

Advocating for a zero-tolerance approach to terrorism, the EAM asserted, "Terrorism presents a persistent and corrosive threat. The global community must demonstrate zero tolerance; there can be no room for ambivalence. Our right to defend against terrorism will never be compromised."

Jaishankar expressed India’s commitment to the initiatives of the East Asia Summit (EAS) and its prospective directions, highlighting that a recent knowledge exchange workshop on energy efficiency policies and a conclave of higher educational institutions were successfully conducted in India.