India's approach to purchasing crude oil from Russia has been characterized by a clear strategy of prioritizing economic benefits, particularly when it comes to discounted prices. Union Petroleum and Natural Gas Minister Hardeep Singh Puri has emphasized that India will continue to buy Russian crude oil if it is offered at a discount, reflecting the country's commitment to securing the most economically priced energy available in the global market.

In recent statements, Puri indicated that India's decision to engage with Russian oil suppliers has been beneficial not only for India but also for the global oil market. He asserted that India's purchases helped prevent a significant spike in global oil prices, which could have reached as high as $200 per barrel if Indian refiners had shifted their sourcing away from Russian oil during a time of crisis.

This was particularly relevant following the geopolitical tensions that arose after Russia's invasion of Ukraine, which led many Western nations to impose sanctions on Russian oil.

Puri noted that while India has reduced its imports from Russia by approximately 10% due to competitive pricing from other suppliers, the country remains open to sourcing Russian oil when it is economically advantageous. He stated, "We are not committed to buying any quantity from anyone; we are committed to buying the most economically-priced energy" available. This approach underscores India's broader strategy of ensuring energy security and affordability for its citizens, particularly as the nation grapples with fluctuating global energy prices.

Moreover, Puri has addressed concerns regarding U.S. sanctions on Russian oil, stating that India's supply chain remains secure despite these restrictions. He expressed confidence in the availability of sufficient oil globally and highlighted that Indian refiners are actively seeking out competitive rates from various sources, including traditional suppliers like Saudi Arabia and Iraq, alongside potential deals with Russia.

India's ongoing engagement with Russian crude oil purchases hinges on economic viability and competitive pricing. As long as discounted rates are available, India will likely continue to source Russian oil, balancing its energy needs with geopolitical considerations.

NDTV