Despite US President Donald Trump’s recent statements, which indicate that India may have stopped the Russian oil imports, Indian government sources have confirmed that the oil haloar continues to obtain Russian crude, guiding with economic and strategic considerations – and complete compliance with international rules.
In response to Trump’s comment that “India is no longer bought oil from Russia,” the sources said in the Ani report that Indian oil companies did not stop the Russian imports, and the supply decisions remain on the basis of factors such as price, logistics, raw row and inventory.
Trump made the statement on Friday, describing the potential step as a “good step” if it was true. But Indian officials trembled, and they repeated that the energy policy in India is based on the national interest and pushed economic facts.
By providing the context, the sources noted that Russia is the second largest crude producer in the world, reaching 9.5 million barrels per day-by 10 % of global demand-and continues to export about 4.5MB/d of raw and 2.3MB/d of refined products.
They added that India, the third largest energy consumer in the world, with 85 % dependence on oil imports, has adapted its sources of sources amid geopolitical and market disturbances to secure affordable energy, while adhering to international standards.
It is worth noting that Russian oil was not punished directly by the United States or the European Union. Instead, it is undergoing the G7/Eu Cap Cap that aims to reduce the Kremlin revenue without disturbing the global offer.
The Indians listed to the maximum of $ 60 barrel and did not get Iranian or Venezuelan crude, who are subject to direct US sanctions.
The sources also prompted the report to the reports-such as Reuters-that some Indian-owned refineries have stopped Russian purchases, describing such “inaccurate” allegations. Mea explained earlier that he was not aware of any specific change in purchases.
Referring to global dynamics, Indian officials stressed that the continued purchase of Russian oil helped prevent Brent Price’s repetition in March 2022 to $ 137/barrels. With OPEC+ cutting by 5.86 MB/D, the Indian demand helped the reduced Russian crude in maintaining global prices stability and reducing inflationary shocks.
https://akm-img-a-in.tosshub.com/businesstoday/images/story/202508/688d9eed8c764-russian-oil-has-never-been-directly-sanctioned-by-the-us-or-eu-instead–it-is-subject-to-the-g7eu-021519936-16×9.png
Source link