‘India purchases oil from wherever most competitive’: Govt clears stand after US ‘allows’ Russian oil buy

“India’s energy supply remains secure and stable. Crude oil sources diversified from 27 to 40 countries, ensuring multiple alternative supply routes.

In the national interest, India purchases oil from wherever the most competitive and affordable prices are available,” it said in a statement on the official handle of the Press Information Bureau.

🔸India’s energy supply remains secure and stable. Crude oil sources diversified from 27 to 40 countries, ensuring multiple alternative supply routes

🔸In the national interest, India purchases oil from wherever the most competitive and affordable prices are available… https://t.co/CQnjAYym96

— PIB India (@PIB_India) March 7, 2026

What US had said on India’s Russia oil purchases

Making the announcement a day earlier, US Treasury Secretary Scott Bessent said the waiver was granted to “enable oil to keep flowing into the global market, emphasising that “deliberately short-term measure will not provide significant financial benefit to the Russian government”.

To be sure, the waiver only relates to the transactions involving oil already stranded at sea.

President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded.

To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.…

— Treasury Secretary Scott Bessent (@SecScottBessent) March 6, 2026

Bessent had also said “India is an essential partner of the United States” and hinted at New Delhi buying more oil from Washington

“India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage,” Bessent wrote in the X post.