India’s Ministry of External Affairs (MEA) affirmed on October 30, 2025, that the country’s decisions regarding oil purchases are primarily guided by market dynamics and national interests, following recent US sanctions on two major Russian oil companies, Rosneft and Lukoil.

MEA spokesperson Randhir Jaiswal clarified that India’s energy policy focuses on securing affordable fuel for its population of 1.4 billion. He emphasised that India’s approach is pragmatic, considering global market fluctuations, affordability, and energy security requirements, rather than external pressures.

In response to questions about the impact of US sanctions on India’s imports of Russian oil, Jaiswal said India is carefully studying the implications but will continue to prioritise energy affordability and supply security. He noted that decisions by Indian companies to adjust purchases reflect these priorities.

Several Indian companies, including HPCL-Mittal Energy Ltd., have reportedly stopped buying Russian crude after the sanctions, signalling a cautious response within industry players. However, the Government of India reaffirms that decisions are made taking into account evolving global market conditions and national needs.

Jaiswal also highlighted the importance of India-Russia relations, describing them as multifaceted and resilient. He pointed to ongoing cooperation in sectors beyond oil, such as space, technology, trade, and the economy, noting efforts to enhance engagements in these areas ahead of Russian President Vladimir Putin’s scheduled visit to India in December 2025.

Regarding India-US relations, the MEA spokesperson confirmed ongoing discussions aimed at concluding a trade agreement, expressing willingness to strengthen the strategic partnership between the two countries. Jaiswal declined to comment on potential countermeasures against US tariffs, citing the jurisdiction of the Ministry of Commerce.

Additionally, India has secured a six-month exemption from US sanctions related to its involvement in the Chabahar Port project in Iran, which remains a vital trade corridor for access to Afghanistan and Central Asia.

The MEA confirmed that some Indian firms have received licences to import rare earth magnets from China following recent US-China trade talks, though the impact of the new US-China trade pact on India is still under examination.

Overall, India’s stance reflects a strategic balancing act: maintaining diversified energy supplies, ensuring affordability for its large population, protecting crucial international relationships, and navigating evolving geopolitical and trade dynamics.​

Based On ANI Report