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India’s Oil Minister Says Refiners Weigh Russian Crude on Price

Puri said India has faced no U.S. pressure to curb purchases and put Russia’s prewar share of Indian oil imports at 0.2%.

Updated 1 min read
Attendees listen during an energy industry event in Goa, India. (AI-generated image / EconoTimes)
Attendees listen during an energy industry event in Goa, India. (AI-generated image / EconoTimes)

India has faced no U.S. pressure to curb Russian crude imports, Petroleum and Natural Gas Minister Hardeep Singh Puri said Tuesday, as refiners weigh prices against competing oil grades.

Reuters reported Puri’s remarks from a Goa industry event. Asked whether Washington had urged India to cut Russian oil purchases, Puri said, “I never felt anything.”

Before the Ukraine war, Russia supplied 0.2% of India’s oil imports, Puri said. He said discounts on Russian crude helped drive purchases higher after the conflict began.

Ship-tracking data put Middle Eastern crude arrivals back at their prewar benchmark in September. The data also showed Indian refiners buying less Russian crude amid stronger competition from China.

Washington waived potential duties on goods from countries buying Russian oil, as EconoTimes reported in earlier coverage of the U.S. duty waiver.

Puri said added refining capacity would help India serve its home market and fulfill export commitments.

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