Oil Minister Hardeep Puri says New Delhi will buy energy wherever it is available at the cheapest price
India has denied that its energy policy has been influenced by external pressure, saying its oil buying decisions are based purely on national interests and pricing calculations.
India’s international agreements, made at the highest levels, have enabled it to diversify its energy sources and reduce risks spurred by global disruptions, especially the Middle East conflict, Petroleum and Natural Gas Minister Hardeep Singh Puri told CNN News18.
“India was never told not to buy Russian oil,” Puri said.
The Middle East conflict and the disruption of energy supplies from the region have brought the focus back on oil purchases by India, which depends on imports for most of its energy needs.
The US has issued sanctions waivers on purchases of Russian oil three times since the conflict began. Washington said the move was aimed at cooling oil prices, which spiked in the aftermath of the conflict.
Puri denied that the waiver helped India and said India successfully navigated the Ukraine and Middle East conflicts – which were “not of our making.”
New Delhi currently “imports energy from 41 countries,” he said, underscoring the country’s efforts to diversify its sources.
Rosneft CEO Igor Sechin said at the St. Petersburg International Economic Forum (SPIEF) last week that India is one of the main drivers of global energy demand right now.
India occupies a special place in the oil market, Sechin said, adding that over the next ten years, the country “will account for around half of the increase in global oil demand.”
The uncertainty regarding the passage of energy through the Strait of Hormuz will have a negative impact on India, but also serve as an incentive to seek long-term energy solutions, he said.
The US imposed 50% tariffs on Indian imports, half of which were punitive tariffs for its purchases of Russian oil, in August 2025. The tariffs were scaled down to 18% earlier this year after Washington struck a trade deal with India.
