“India Will Buy Oil From Wherever It Has To”: Minister On Russia Imports

Union Minister Hardeep Singh Puri said: “India will buy oil from wherever it is.

New Delhi:

Minister of Petroleum and Natural Gas Hardeep Singh Puri said the Indian government has a moral responsibility to provide energy to its people and they will continue to buy oil from anywhere. oil from Russia.

The Russo-Ukrainian war has had a far-reaching impact on the global energy system, disrupting supply-demand patterns and fracturing longstanding trading relationships.

It has pushed up energy prices for many consumers and businesses around the world, hurting households, industries and entire economies in some countries.

India’s crude oil imports from Russia have increased more than 50-fold since April and now account for 10% of all crude purchases from abroad. Russian oil accounted for only 0.2 percent of the total oil that India imported before the Ukraine war.

Western countries are gradually cutting energy purchases from Russia after the attack on Ukraine.

Mr. Puri told a group of Indian reporters here: “India will buy oil from wherever it needs to be for the simple reason that this kind of discussion is not possible for consumers in India. . provide energy to its people.

In response to a question, he said India has not been asked by anyone to stop buying oil from Russia.

“If you are clear about your policy, which means you believe in energy security and the affordability of energy, you will buy energy from wherever you have to,” Mr Puri said later. Bilateral meeting with US Secretary of Energy Jennifer Granholm.

During his meeting, Mr. Puri “discussed ideas” on the India-US Green Corridor, which elicited a positive response from his US counterpart.

“The chaos in the energy market, and I am using the word turbulent support carefully, will not allow India to resolve… to transition… to clean and sustainable green energy,” he said. he said.

The two countries will now consider the broader contours of this ambitious Green Energy Corridor.

India’s imports from the US are growing strongly and are currently buying $20 billion worth of energy from the US. He said there are discussions about buying more from the United States.

While work on green energy will continue, traditional exploration and oil and gas production will also continue, he noted.

The world is also working on green hydrogen. He added, India and the US have an advantage that is currently unrecognized.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)


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