Daijiworld Media Network - New Delhi
New Delhi, Jul 17: Union Petroleum Minister Hardeep Singh Puri on Thursday asserted that India is not concerned about potential US sanctions targeting Russian oil exports, citing the country’s diverse oil procurement strategy.
Speaking at Urja Varta 2025, Puri noted that India now imports crude from 40 countries, compared to just 27 in 2007, ensuring strong energy security. “There’s a lot of oil in the market. We’re not unduly worried,” he said.
His remarks came in response to US President Donald Trump’s recent threats to impose 100% secondary sanctions on countries like India and China if they continue trading with Russia.
Commenting on Trump’s warning, Puri said, “I’ve heard these threats. Sometimes such statements are made to push two sides towards a settlement.”
Puri highlighted that India’s oil imports from Russia, which stood at just 0.2% before the Ukraine war, have now jumped to around 40%, playing a key role in global price stability.
“Without India’s trade with Russia, crude prices could have hit $130 a barrel,” he said, adding that Russian oil was under a price cap, not formal sanctions, and India has never bought oil from a sanctioned country.
He warned that removing Russia’s 9 million barrels/day—nearly 10% of global supply—could trigger chaos and a steep rise in oil prices.
India continues to prioritize affordable and secure energy access, regardless of geopolitical pressures.