India has said it will continue buying crude oil from Russia, even after the expiry of a key US sanctions waiver related to Russian oil. A senior government official on Monday said that the country’s energy policy will remain focused on affordability and supply security, regardless of changes in Western restrictions.
The statement comes amid growing global concern after the lapse of a sanctions waiver linked to Russian oil trade, which had allowed certain transactions under the previous US arrangement. Despite this development, New Delhi has made it clear that its import decisions will not be influenced by such policy shifts.
Russian oil supply steady
Speaking at a media briefing, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, underlined that India’s oil purchases from Russia have remained steady throughout different phases of the waiver system.
"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," she stated.
Sharma added that India’s crude oil sourcing is guided mainly by commercial considerations and market conditions. She said that the expiry of the US waiver would not affect the country’s buying pattern from Russia.
She also reassured that India’s fuel supply remains stable and well secured despite global uncertainties and tensions affecting 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.
Crude oil price under pressure amid Gulf tensions
Global oil prices have stayed volatile in recent days due to ongoing tensions in West Asia and concerns over possible disruptions in key shipping lanes such as the Strait of Hormuz. Brent crude was trading higher by 0.93 per cent at USD 110.28 per barrel, while US West Texas Intermediate (WTI) rose 0.85 per cent to USD 106.32 per barrel.
In recent years, Russian oil has become an important part of India’s diversified import basket, largely because of its discounted pricing compared to other global suppliers. Officials indicate that India will continue to prioritise cost-effectiveness and supply stability in its energy strategy going forward.
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