Union Minister Hardeep Singh Puri said, “India will buy oil from wherever it has to buy.”
New Delhi:
Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Friday said that the Indian government has a moral duty to provide energy to its citizens and it will continue to buy oil from wherever, adding that no country has asked India to stop buying it. Have not asked. Oil from Russia.
The Russo-Ukraine war has had far-reaching effects on the global energy system, disrupting supply and demand patterns and disrupting long-standing trade ties.
It has raised energy prices for many consumers and businesses around the world, damaging homes, industries and entire economies in many countries.
#watch , “…wherever India will buy oil from, it is simply because such discussion cannot be extended to the consumer population of India… Has anyone told me to stop buying Russian oil? The answer is a Clear ‘no’..,” says Petroleum and Natural Gas Min pic.twitter.com/rgr0Abg9K0
— ANI (@ANI) 8 October 2022
India’s crude oil imports from Russia have increased more than 50 times since April and now account for 10 per cent of all crude purchased from abroad. Russian oil made up only 0.2 percent of all oil imported by India before the Ukraine war.
After the attack on Ukraine, Western countries are gradually reducing their energy purchases from Russia.
“The simple reason why India will buy oil from wherever it is, is that such a discussion cannot be extended to India’s consuming population,” Mr. Puri told a group of Indian journalists here. Give energy to your people.
In response to a question, he said that no one has asked India to stop buying oil from Russia.
Puri said after his bilateral meeting with US Energy Secretary Jennifer Granholm, “If you are clear about your policy, which means you believe in energy security and energy affordability, you will buy energy from sources where You have to buy energy from it.”
During their meeting, Mr. Puri “highlighted the idea” of the India-US Green Corridor, which received a positive response from his US counterpart.
“The turmoil in the energy markets, and I am using the term turbulence support with caution, will not allow India’s resolve to… to switch to green, clean and sustainable energy,” he said.
The two countries will now look at the broad contours of this ambitious green energy corridor.
India’s imports from the US are on the rise and are currently buying US$20 billion worth of energy from the United States. He said that discussions are on to buy more from the United States.
He said that while work on green energy would continue, conventional exploration and production of oil and gas would also continue.
The world is also making progress on green hydrogen. He said that India and America have an advantage, which is not being realized at the moment.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)