Legitimate Energy Transactions Shouldn't Be Politicised: Govt Sources On Oil Imports From Russia

Earlier on Thursday, India did not rule out buying crude oil at discounted rates from Russia.

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New Delhi: Amid reports that India may import crude oil from Russia, sources in the government on Friday said New Delhi’s legitimate energy transactions should not be politicised.

India’s legitimate energy transactions shouldn't be politicised, PTI reported government sources as saying on the country’s crude oil imports and energy ties with Russia.

Earlier on Thursday, India did not rule out buying crude oil at discounted rates from Russia.

Ministry of External Affairs (MEA) official spokesperson Arindam Bagchi pointed out that several European nations were still importing energy from Russia.

“On imports of energy from Russia – let me just highlight that a number of countries are doing so, especially in Europe, and for the moment I’ll leave it at that,” Bagchi told a media briefing in the national capital.

Stating that almost all of India’s energy requirements are imported, Bagchi said the country is always exploring new options and indicated that Russia is one such destination.

“We are a major oil importer and we are looking at all options at all points, we need the energy,” he added when asked if India plans to import more oil from Russia.

State-run Indian Oil Corporation (IOC) has, as per reports, bought three million barrels of crude oil that Russia offered at a steep discount on prevailing global rates.

Hindustan Petroleum Corporation Ltd (HPCL) has also reportedly bought two million barrels of Russian crude.

There are reports suggesting that Mangalore Refinery and Petrochemicals (MRPL) too plans to buy one million barrels of the same crude.

This comes amid the ongoing conflict between Russia and Ukraine.