India’s Foreign Secretary Vikram Misri has stated that the country’s energy procurement decisions will be guided by national interests, following reports suggesting India is reducing oil imports from Russia in light of a new trade agreement with the United States.
Addressing speculation that India may be scaling back Russian crude purchases as part of strengthening economic relations with Washington, Mr Misri underscored that energy policy continues to be determined by the imperative to protect consumers in what is the world’s third-largest oil-importing nation.
“You are aware that India is a net importer in the oil and gas sector. We are a developing economy; we have to be conscious about our resource availability,” he said.
He added: “So, it’s not surprising therefore that our foremost priority is to safeguard the interests of Indian consumers insofar as energy is concerned, to really ensure that they receive adequate energy at the right price and through reliable and secure supplies. And our import policy insofar as energy is concerned is therefore driven entirely by these objectives.”
The statement comes in the context of a recently announced US-India trade deal framework, which US President Donald Trump claimed includes India’s commitment to halt or sharply reduce purchases of Russian oil. Washington has portrayed the shift as part of broader cooperation, with suggestions that India could increase imports from the US and potentially Venezuela.
However, New Delhi has not confirmed any outright cessation of Russian supplies. Mr Misri highlighted global uncertainties affecting energy markets and India’s role in promoting stability. “India certainly, and I would imagine a lot of countries around the world, if not every country, have a shared and common interest in ensuring stable energy prices and secure supplies,” he said. “And in fact, I would underline that India is not just one of the largest consumers of energy, but it also plays an important role as a stabilizing factor in global energy markets.”
He explained India’s strategy of diversification: “And that’s one reason why we import energy from multiple sources. So, as I mentioned earlier, the key drivers of our energy policy are adequate availability, fair pricing, and reliability of supply.”
Mr Misri noted that day-to-day decisions rest with oil companies. “Insofar as actual sourcing of energy is concerned, again, all of you follow this closely, so you know that the actual sourcing is done by oil companies. Oil companies in the public sector, oil companies in the private sector. And they make decisions based on market conditions.”
He pointed, “So, what I can firmly and confidently say is that whether it is the government or indeed our business, at the end of the day, national interests will be the guiding factor for us in our choices.”