Marco Rubio, S Jaishankar discuss energy ties as India-US trade deal nears finalisation

We shared views on further advancement of our ties, focusing on trade, energy, technology, defence and people-to-people ties. Also exchanged views on regional developments," Jaishankar stated on X after the meeting.During a brief media interaction ahead of the meeting, Rubio, in response to a question on the trade pact, said that "a small number of items are left to be wrapped up" and hoped it will be sealed "shortly".Live EventsThe two leaders also exchanged views on the West Asia situation amid a hardening in crude oil prices.Deepening Strategic TiesForeign secretary Vikram Misri, US ambassador to India Sergio Gor and other officials were also present at the meeting.Rubio said that he and Jaishankar discussed energy security and defence cooperation.The US state department confirmed the broad nature of talks between the two leaders."The secretary and minister discussed regional and global issues, including developments in the Middle East.

The Secretary reiterated that increased energy trade with the United States can play a transformative role in diversifying India's supply chains while meeting its sizable consumer demand," said a state department readout of the meeting. "He also commended recent progress in bilateral defence and civil nuclear cooperation, and advocated for the increased purchase of US technologies and systems, which can enhance the security and prosperity of both our countries."Talking to reporters during his Mumbai visit, Rubio said New Delhi had repeatedly expressed its desire to diversify its energy portfolio, describing it as a "smart thing to do."Venezuelan SuppliesRubio added that the US had discussed Venezuela and other countries as potential sources of energy for India, saying Washington had an interest in maintaining strong alliances with countries that have diverse energy portfolios.

He said he would hold discussions with Ambani, who owns the country's most advanced refinery in Gujarat's Jamnagar.Earlier in the day, Rubio arrived in Mumbai for his second visit to India as the US secretary of state. After his engagements in Mumbai, Rubio would travel to Jamnagar for talks that will include "enhanced energy cooperation," the US state department said.He will meet the Reliance chairman Ambani and visit the refinery in Jamnagar.

It is understood that Rubio is encouraging Reliance to refine additional volumes of Venezuelan crude.Separately, Rubio paid tributes to victims of the 26/11 Mumbai terror attacks at the Taj Mahal Palace Hotel memorial, accompanied by ambassador Sergio Gor.Meanwhile, US President Donald Trump defended his decision to waive fresh sanctions and punitive measures on Russian energy exports, calling it a "very good decision" that would benefit the US and the world.The move offers India relief from potential tariffs of up to 100% for buying Russian oil.Special WaiverIn an executive order last Friday, Trump invoked a provision allowing the president to waive further punitive measures if doing so was in the US national interest.

Trump has announced a deal with Russia to purchase diesel, drawing international attention.On Monday, Rubio said that the India-US trade deal is close to being finalised. "We're trying to finalise a trade deal with India right now. We're very close to doing that," he said in Samarkand ahead of his India visit.He also said that the US considered global energy needs before imposing sanctions linked to Russian oil exports.

"We've had to waive sanctions over the past few months because of the impact on global supplies and prices... We have to manage all of these things," he said."We're trying to finalise a trade deal with India right now. We're very close to doing that. That's one of the things we take into consideration when the President makes a decision about national security waivers and things of that nature. Every country has a complex set of factors that it has to take into account.

Geography is real. For some countries, it's very difficult to acquire energy from alternative sources. That's not an excuse, but all of that has to be balanced when making foreign policy," Rubio said.Meanwhile, Foreign secretary Vikram Misri met US Congressional staffers in Mumbai on Tuesday, highlighting Congress's role in advancing India-US ties. He also discussed growing technology and defence cooperation and the strong people-to-people links between the two countries.(You can now subscribe to our Economic Times WhatsApp channel)