Oil Prices: Union Minister Hardeep Puri Explains Why India Bought Oil From Russia - Full Statement

Puri on Indian Oil Imports: On Friday, Union Minister Hardeep Singh Puri shared that global oil prices would have surged significantly h India not imported oil from Russia. dressing India’s energy strategy, Puri noted that without se purchases, global oil prices would likely have escalated furr.

While some countries criticise India’s continued energy imports from Russia, Puri pointed out that y overlook broer benefits India's actions bring to global energy market. 

Global Oil Prices Would Have Skyrocketed: Puri 

Talking about India sourcing oil from Russia, Puri said, “While y remain focused on India’s oil purchases from Russia, many do not realise that global oil prices would have skyrocketed if India hn’t sourced oil from Russia,” Puri stated in a social media post.

minister underlined that India's decision to source oil from Russia has played a critical role in balancing energy affordability, availability, and sustainability—a challenging "trilemma" that many nations grapple with. 

Energy, affordability, and sustainability

Puri ded that, unlike many countries facing energy shortages and high costs, India has managed to meet its energy needs without placing a financial burden on its citizens, attributing this to Prime Minister Narendra Modi ’s strategic leership.

“Under PM Narendra Modi’s dynamic leership, India has successfully navigated trilemma of energy availability, affordability, and sustainability,” Puri said.

Reaffirming India’s stance, Puri stated that country would prioritise its own economic and consumer interests by securing energy from suppliers offering best rates. India’s approach, he ded, underscores its commitment to affordable and sustainable energy amid global uncertainty and fluctuating oil prices.

“India will buy oil from wherever our companies find best rates,” Puri reiterated.

(With ANI inputs)