Key facts
- India has faced no pressure from the US to reduce its Russian crude imports, Oil Minister Hardeep Singh Puri said.
- India's imports of Russian oil have been reduced as refiners are buying more Gulf oil sold at a discount.
- Middle East oil supplies are increasing, according to the minister.
India has not faced pressure from the United States to reduce its imports of Russian crude oil, according to Oil Minister Hardeep Singh Puri. Speaking at an industry event in Goa on Tuesday, Puri stated that India's purchasing decisions are ultimately anchored in self-interest, driven by discounts and pricing compared to other oil grades.
He noted that while India imported 0.2% of its oil from Russia before the Ukraine war, imports have since surged due to discounts. However, recent data indicates that India's imports of Middle Eastern crude oil increased in September, returning to pre-war levels, as refiners cut back on Russian oil purchases amid competition from China. Puri also mentioned that India is expanding its refining capacity to meet domestic demand and export commitments.