India will adhere to international sanctions, including those affecting Russian oil, Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday, as global markets assess potential shifts in U.S. policy under President Donald Trump.
Since the West imposed sanctions on Moscow, India has significantly increased its Russian oil imports, which now account for approximately 40% of the country’s crude supply, up from just 12% in 2021, according to Kpler data. Puri defended these purchases as essential for national energy security, noting that European nations continue to buy energy from Russia.
While the previous U.S. administration under President Joe Biden had allowed India to buy Russian oil within price cap limits, analysts are closely watching whether Trump will tighten or relax energy sanctions. His administration previously imposed restrictions on Iran and Venezuela while promoting U.S. energy production.
Puri signaled India’s openness to increasing U.S. oil imports if American production rises. “If Americans are putting in more energy onto the global market… I’d be surprised if we don’t [buy more],” he said.
India’s oil consumption growth has now outpaced China’s, contributing to 25% of the global increase in oil demand. As a key consumer, Puri emphasized that India intends to leverage its growing energy needs to influence global markets.
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