How Does India Source Oil Based on Global Market Offers?
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Synopsis
India's oil acquisitions are strategically guided by global market dynamics, as highlighted by MEA spokesperson Randhir Jaiswal. The strength of India-Russia relations and the enduring partnership with the US are also emphasized, showcasing India's adeptness in navigating complex international scenarios.
Key Takeaways
- India's oil purchases are market-driven.
- Strong India-Russia ties remain intact.
- India adapts to US tariffs effectively.
- Partnership with the US is based on mutual interests.
- Energy security is a priority for India.
New Delhi, Aug 1 (NationPress) India secures its oil acquisitions based on global market offers to fulfill its energy requirements, as stated by the Ministry of External Affairs (MEA) spokesperson, Randhir Jaiswal, on Friday.
In reply to an inquiry, he mentioned that India-Russia bilateral relations are robust.
"Our relationships with any nation are based on their own merits and should not be viewed through the lens of a third party. Regarding India-Russia ties, we maintain a consistent and reliable partnership," he added.
Addressing media reports that some Indian oil firms have ceased imports from Russia, Jaiswal remarked, "You are aware of our overarching strategy for energy sourcing, which considers what is available in the market and the current global context. We are not privy to any specific details."
He also noted that India is adapting to the increase in tariffs announced by President Donald Trump and remains focused on enhancing its global strategic partnership with the United States.
"India and the United States share a comprehensive global strategic partnership founded on common interests, democratic values, and strong people-to-people connections," Jaiswal said during the weekly media briefing.
“This partnership has endured numerous transitions and challenges. We are committed to the substantive agenda that both nations have agreed upon and are optimistic that the relationship will continue to progress," he elaborated.
"Concerning security, I would like to highlight that the security collaboration between India and America is formidable. There is potential for this partnership to expand further under the India-US COMPACT for the 21st century," he added.
Jaiswal also acknowledged India's awareness of the US sanctions imposed on six Indian companies for acquiring petroleum products from Iran.
However, he declined to comment on President Trump's assertion that India may one day buy oil from Pakistan following an energy agreement with Islamabad.
Point of View
India's approach to sourcing oil reflects a pragmatic strategy that prioritizes national interests and energy security. By fostering strong relationships with key nations like Russia and the US, India positions itself as a pivotal player in the global energy landscape. This balanced approach underscores the importance of maintaining sovereignty while navigating international relations.
NationPress
05/10/2025
Frequently Asked Questions
How does India determine its oil purchasing strategy?
India determines its oil purchasing strategy based on global market offerings, considering availability and current market conditions.
What is the current status of India-Russia relations?
India-Russia relations are strong, characterized by a steady and time-tested partnership.
Have Indian companies stopped buying oil from Russia?
There are reports, but Jaiswal emphasized that India remains focused on its broad energy sourcing strategy.
What is the significance of the India-US partnership?
The India-US partnership is anchored in shared interests and democratic values, providing a foundation for strong security ties.
How has India responded to US tariffs?
India is adapting to the increase in tariffs while continuing to strengthen its global strategic partnership with the US.
