The Centre on Saturday said India will continue to purchase crude oil from whichever source offers the most competitive prices, even as tensions persist along the Strait of Hormuz amid the Iran-US-Israel war.
In a statement, the government said India’s energy supplies remain secure despite the disruptions.
"Despite rising tensions on the Hormuz Route, India's energy supply remains secure and stable. India has diversified its crude oil sources from 27 to 40 countries, ensuring multiple alternative supply routes. In the national interest, India purchases oil from wherever the most competitive and affordable rates are available," the Centre said in a statement.
Don't need anyone's permission to buy oil
India also confirmed on Saturday that it continues to import Russian oil, citing a temporary waiver granted by the United States due to the war in the Middle East. The Centre said New Delhi does not require permission from any country to make such purchases.
"India has never depended on permission from any country to buy Russian oil," the Centre said. "India is still importing Russian oil even in February 2026, and Russia is still India's largest crude oil supplier. For three years of the Russia-Ukraine war, India kept buying Russian oil despite US and EU objections. Imports increased significantly after 2022 due to discounted prices and refinery demand."
According to the Centre, India holds more than 250 million barrels of crude oil and petroleum products in reserves and across its supply chain, providing a buffer equivalent to 7 or 8 weeks of consumption. India’s total refining capacity stands at 258 million metric tonnes per annum, exceeding current domestic demand.
Military actions by the US and Israel against Iran, along with Tehran’s retaliatory strikes across the Gulf, have disrupted global energy flows and shipping routes, pushing oil prices sharply higher.
On Thursday, the United States temporarily eased sanctions on Russia so that oil from the country already loaded on vessels at sea could be sold to India.
"Suggesting a short-term waiver 'enables' these purchases overlooks that the trade has continued consistently. India is a net exporter of refined products to the world, a position that reinforces, not undermines, its energy security," the Centre said.
