Hardeep Singh Puri says no US pressure to cut Russian oil imports

No pressure from US to cut Russian oil imports: Hardeep Puri

New Delhi, Oct 27

Speaking at an event, the minister noted that Middle East oil supplies have been rising as the region is able to ship out more cargoes.

"I never felt anything," he said.

He noted that India was getting only 0.2 per cent of its oil imports from Russia before the Ukraine war, while imports surged after the war started due to discounts on Russian oil.

India's imports of Middle Eastern crude surged in September, returning to pre-war levels, while refiners cut back purchases of Russian oil amid stiff competition from China, ship-tracking data showed.

The minister also stated that purchase of Russian oil is linked to discounts and pricing when compared with other grades. Russian oil imports have been reduced as refiners are buying more Gulf oil sold at a discount, he added.

Ultimately, every decision is anchored in self-interest, the minister noted.

Earlier in October, US President Donald Trump invoked national interest provisions to waive fresh sanctions, restrictions and duties on Russian energy exports under a law enacted last month, providing relief to India from potential tariffs of up to 100 per cent.

Earlier in September, Puri had said that India has navigated the recent supply-chain disruptions amid the geopolitical crises and maintained steady energy imports, reflecting the success of its energy diplomacy under the leadership of Prime Minister Narendra Modi.

"Energy security today is not simply about securing supplies; it is also about navigating conflicts, chokepoints, volatile prices and sudden disruptions while keeping the country and its economy on the move," according to the minister.

Separately, the minister had said that the nation is emerging as a major force in shaping the global energy landscape with nearly one-fourth of the world's energy demand growth expected to come from the country over the next two decades.

— IANS