Petroleum Minister Hardeep Singh Puri on Thursday said India is not worried about a possible disruption in oil supplies from Russia.
He assured that the global oil market currently has ample supply. Even if Russian exports stop or reduce, India will not face a shortage, he said.
Speaking at an energy event in New Delhi, the minister emphasized that India remains committed to securing energy at the best possible rates.
India’s Stand: Price Over Politics
India has continued purchasing crude oil from Russia despite global tensions. Puri reiterated the country’s stand. “We will buy oil from wherever we get the best deal. If it’s not under sanctions, there is no issue,” he said.
He emphasized that India is a large energy consumer. “Affordability and accessibility are key. Our priority is what’s good for the Indian consumer,” he added. This comes amid increasing pressure on nations to cut dependence on Russian energy due to the Ukraine conflict.
Russia-India Oil Trade Remains Strong
Since early 2022, Russian oil has formed a significant portion of India’s crude imports.
Discounted oil from Moscow has helped India control domestic fuel prices, despite global volatility. Puri dismissed fears of overdependence. “Russia is a major supplier now, yes. But we are not locked in. The world oil market is big,” he said.
Data from the Petroleum Ministry shows that Russian crude made up nearly 30% of India’s total imports in 2024. Saudi Arabia and Iraq remain other key suppliers.
Oil Market Conditions Favour India
The minister said oil supply chains are now more diversified than ever.
With increased production in the US, Middle East, and even Brazil, any shortfall from Russia can be absorbed globally. International crude prices have remained relatively stable in 2025.
Global oil output stands strong, led by OPEC+ nations, non-OPEC producers, and recovery in shale oil production. “We are not in 1973. This is a different oil market now. Supply chains can realign swiftly,” Puri said.
India’s Long-Term Energy Strategy
India is also working to reduce long-term dependence on fossil fuels. The government continues investing in biofuels, electric mobility, and renewable energy. “By 2030, 20% of our fuel mix will be bio-based. We are already blending 12% ethanol in petrol,” Puri noted.
India has also partnered with global players for oil exploration and refining capacity expansion. The Centre is also pushing states to adopt green mobility and EV infrastructure.
“We are preparing for both current and future needs,” Puri added.
India’s Global Energy Diplomacy
India has maintained a balanced foreign policy regarding oil. It engages with the US, Middle Eastern countries, and Russia to ensure steady supply. Puri stated that energy security remains a diplomatic priority.
“India is the third-largest oil consumer in the world. Everyone wants to sell to us,” he said.
He pointed out that several nations have reached out proactively, offering flexible long-term contracts. India is also exploring more deals with African nations and Latin America.
Evolving Energy Landscape
Energy experts agree with the minister’s view.
“There’s no real concern of disruption. Oil is a global commodity. Disruption in one region leads to shifts, not collapse,” said energy economist Dr. Anjali Basu. However, she added that geopolitical tension still plays a role.
“India must remain watchful, but the current supply situation is comfortable.”
Conclusion: Stable for Now
India is watching the global oil scenario but feels confident.
Minister Puri’s statement reflects India’s pragmatic and price-driven oil policy.
With diverse supply options and rising investments in alternatives, India appears well-prepared to handle any supply shock.
As the world navigates an evolving energy map, India’s focus remains clear: secure, affordable, and accessible energy for its people.
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