Hardeep Singh Puri Global oil prices could have skyrocketed without India’s oil purchases from Russia: Union Minister Hardeep Singh Puri
New Delhi/IBNS: Union Minister Hardeep Singh Puri emphasized that India’s decision to purchase oil from Russia has played a crucial role in preventing global oil prices from escalating even further.
Speaking on India’s energy strategy, Puri noted that without these purchases, the price of oil worldwide could have surged to unprecedented levels.
He also addressed criticism from countries questioning India’s energy imports from Russia, stressing that these critics often overlook the stabilizing effect India’s actions have on the global energy market.
“While some remain focused on India’s oil purchases from Russia, what they fail to understand is that global oil prices would have skyrocketed if India hadn’t taken these steps,” Puri shared on social media.
Puri explained that India’s decision to source affordable oil from Russia helps the country navigate the “energy trilemma” of balancing availability, affordability, and sustainability—a challenge that many nations face.
According to Puri, India's success in maintaining affordable energy costs is due to Prime Minister Narendra Modi’s decisive leadership, which has prioritized a resilient and diverse energy policy to benefit citizens.
"India has adeptly managed the trilemma of energy availability, affordability, and sustainability, thanks to the visionary leadership of PM @narendramodi Ji," Puri remarked.
The minister also reiterated India’s stance of prioritizing its own economic and citizen welfare by sourcing energy from suppliers offering the most competitive rates.
He stressed that India’s approach shows its commitment to affordable and sustainable energy, even in the face of global uncertainties and price fluctuations.
Puri’s statements come amid ongoing energy supply challenges worldwide.
With oil prices remaining volatile, India’s diversified energy sourcing policy has been key to stabilizing domestic prices, securing energy, and reducing the impact of price surges on the population.
"India will continue to buy oil from whichever supplier offers the best rates," Puri affirmed.
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