NEW DELHI, May 18 (ANI): India will continue purchasing Russian crude oil regardless of the status of Washington’s sanctions waivers, a senior government official said Monday, emphasizing that national energy security and economic considerations remain New Delhi’s top priorities amid rising global fuel prices and growing tensions in West Asia.
The statement comes amid international concerns after the Trump administration allowed a key sanctions waiver tied to Russian seaborne oil to expire over the weekend.
Speaking during a media briefing on Monday, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said India’s import strategy has remained unchanged.
“Regarding the American waiver on Russia, I would like to emphasize that we have been purchasing from Russia earlier … before the waiver also, during the waiver also, and now also,” she said.
Sharma noted that India’s crude sourcing decisions are based on market dynamics and supply availability.
“It is basically the commercial sense which should be there for us to purchase,” she said, indicating that the lapse of the American framework would not alter New Delhi’s purchasing approach.
The senior official also sought to ease concerns regarding domestic energy supplies, saying India’s energy security remains stable despite geopolitical uncertainties and risks affecting global shipping routes.
“There is no shortage of crude. Enough crude has been tied up repeatedly … and this, whatever waiver or no waiver, it will not affect,” Sharma added.
The remarks come as global oil prices remain elevated because of regional conflicts and concerns over possible supply disruptions around the strategic Strait of Hormuz.
International benchmark Brent crude was trading 0.93 percent higher at USD 110.28 per barrel, while US benchmark West Texas Intermediate (WTI) crude rose 0.85 percent to USD 106.32 per barrel.
Energy markets have remained volatile following a series of military strikes linked to the broader West Asia crisis, fueling concerns over disruptions to global energy supply networks.
Over the past several years, Russian crude has become a major component of India’s diversified oil import strategy, largely because it is often available at discounted prices compared to other global benchmarks.
The latest comments from the petroleum ministry indicate that India intends to continue importing Russian oil regardless of changes in the Western regulatory landscape, as long as supplies remain commercially viable and accessible. (ANI)
About The Author
