New Delhi: India on Monday firmly rejected claims that it is profiting from importing discounted Russian crude, amid mounting international scrutiny over its energy purchases from Moscow. Oil Minister Hardeep Singh Puri stressed that India’s imports are fully compliant with international regulations and are intended to stabilize global oil markets, not to generate undue profit.
Addressing the issue, Minister Puri clarified that while India has emerged as a significant buyer of Russian seaborne oil, the transactions are conducted legally and transparently. He noted that Russian oil is not subject to outright sanctions but falls under the G7/EU price cap mechanism, designed to restrict Moscow’s revenues without halting oil supply. According to Puri, India’s purchases have helped prevent global oil prices from surging to extreme levels, which could have severely impacted developing economies.
The United States has previously criticized India’s import of Russian oil. President Donald Trump and senior U.S. officials, including Treasury Secretary Scott Bessent and trade adviser Peter Navarro, have alleged that India is indirectly funding Russia’s war in Ukraine. Trump’s administration-imposed tariffs on Indian goods in a bid to discourage these purchases, claiming India resells refined products at higher margins.
Responding to these accusations, Puri emphasized that India’s energy strategy is guided by market realities and national energy security. “All Indian oil purchases are made through legal shipping, insurance, and trading channels,” he stated, highlighting the country’s adherence to international compliance standards. The minister underscored that the imports are critical to sustaining India’s energy requirements for its 1.4 billion population, especially in a volatile global market.
The controversy unfolds alongside Prime Minister Narendra Modi’s high-profile meeting with Russian President Vladimir Putin at the Shanghai Cooperation Organisation summit in China. Analysts note that the meeting is likely to reinforce the strategic partnership between India and Russia, particularly in energy and defense sectors, while balancing diplomatic sensitivities with Western allies.
As global scrutiny of Russian energy continues, India maintains its stance that its purchases are lawful, measured, and aimed at ensuring energy stability rather than profiteering. The issue is expected to remain a focal point in ongoing U.S.-India dialogues over trade and geopolitical alignment.