India said Thursday it would continue purchasing oil from diversified suppliers after US lawmakers approved new sanctions targeting Russia over its war in Ukraine.
The legislation targets Russia’s energy and defence sectors, President Vladimir Putin and senior officials, along with vessels in Moscow’s so-called shadow fleet. The measures also give US President Donald Trump authority to impose tariffs of up to 100% on major buyers of Russian oil and gas.
India defends energy security policy
The potential tariffs could affect major Russian energy buyers, including India and China, as Washington seeks to reduce Moscow’s oil revenues.
However, India’s foreign ministry said the government remains committed to protecting energy security for its 1.4 billion people. The ministry said New Delhi would continue using diversified sources based on changing market conditions. It also said India would take necessary measures to protect its trade and economic interests.
Russia remains an important strategic partner and military supplier for India. Meanwhile, the two countries have maintained close economic ties despite Western pressure over Moscow’s war in Ukraine.
Russian oil imports remain significant
India has increasingly relied on Russian oil while managing energy market disruptions linked to the US-Iran conflict. Indian Prime Minister Narendra Modi and Putin held talks in New Delhi last week before a BRICS summit. The Indian foreign ministry said officials had discussed the sanctions issue with several US representatives in recent months.
New Delhi also highlighted potential consequences for bilateral relations and global energy markets.
According to trade intelligence firm Kpler, Indian refiners nearly doubled Russian crude imports to 2.25 million barrels per day in March. Shipments later reached a record 2.81 million barrels per day in July before falling to 2.07 million barrels per day last month.
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