THE JHARKHAND STORY DESK
New Delhi, March 7: The Centre on Saturday said India continues to import crude oil from Russia and other sources offering the most competitive prices, asserting that New Delhi has never required permission from any country to make such purchases.
The statement comes amid reports about a temporary 30-day waiver issued by the United States allowing oil shipments already loaded on vessels to be delivered to India.
Responding to the development, the government said India’s energy procurement decisions are based solely on national interest and affordability.
“India has never depended on permission from any country to buy Russian oil,” the Centre said in a statement, adding that Russia remains India’s largest crude oil supplier even in February 2026.
The government noted that India continued purchasing Russian crude throughout the Russia-Ukraine war, despite objections from some Western countries. Imports from Russia increased significantly after 2022 as discounted prices and domestic refinery demand made the supplies economically attractive.
Energy supplies remain stable
The government also said India’s energy supplies remain stable despite disruptions to global shipping routes caused by the ongoing conflict in the Middle East.
Tensions in the Strait of Hormuz have escalated following military actions involving the United States, Israel and Iran, raising concerns about global oil shipments and pushing crude prices higher.
According to the government, India has diversified its crude oil sources significantly in recent years.
“India has expanded its sourcing network from 27 countries to around 40 countries, ensuring multiple supply routes and strengthening energy security,” the statement said.
Strong reserves and refining capacity
India currently holds over 250 million barrels of crude oil and petroleum products in reserves and across its supply chain, providing a buffer equivalent to seven to eight weeks of consumption, officials said.
The country’s total refining capacity stands at 258 million metric tonnes per annum, which exceeds current domestic demand and allows India to export refined petroleum products to global markets.
Officials said this position strengthens India’s overall energy security rather than weakening it.
US waiver and global oil prices
On Thursday, the United States temporarily eased sanctions on Russia, allowing oil cargoes that had already been loaded on ships to be sold to India.
However, the Indian government said suggesting that such a waiver enables the trade is misleading, since India has continued importing Russian oil consistently over the past three years.
Meanwhile, global oil markets have reacted sharply to the ongoing Middle East conflict.
Oil prices surged 8.5 per cent on Friday and have risen nearly 30 per cent over the past week, following remarks by US President Donald Trump that the conflict with Iran would end only after its “unconditional surrender”.
The escalating tensions and disruption of shipping routes through the Gulf have added to volatility in global energy markets.
