India will continue buying Russian oil regardless of whether the United States provides sanctions waivers, a senior Indian official indicated on Monday.
India’s decision to buy crude oil is based on the
country’s energy security needs and economic interests, said Sujata Sharma, Joint Secretary in the Petroleum Ministry, on Monday.
“Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing from Russia earlier ... I mean before the waiver also, during the waiver also, and now also,” Sharma said during a media briefing.
She said that India will continue purchasing crude oil from wherever it gets the best commercial terms.
Indian refiners are continuing to buy large volumes of Russian crude because it is available at discounted prices compared to other global suppliers.
India became one of the biggest buyers of Russian oil after Western countries imposed sanctions on Moscow following the Russia-Ukraine war.
Although the US and European countries introduced restrictions on Russian energy exports, India has maintained that it does not violate sanctions because Russian oil purchases are being made within permitted price limits and international rules.
She said that India has always followed United Nations sanctions and does not recognise unilateral sanctions imposed by individual countries unless they are backed by the UN.
India relies heavily on crude oil imports to meet domestic energy demand. Buying discounted Russian oil has helped the country reduce import costs and manage inflationary pressure.
Russian crude now forms a major share of India’s total oil imports. Indian refiners have also increased purchases because Russian suppliers have offered flexible payment arrangements and competitive freight terms.
Stopping Russian oil imports abruptly could hurt the country’s economy by increasing fuel prices and widening the import bill.
India has repeatedly defended its energy purchase decisions by arguing that European countries themselves continued buying Russian energy products for a long period after the war began.
The government has indicated that India will continue balancing its strategic ties with both Western countries and Russia while protecting its national interests.
