'Our Approach Is To Maintain Multiple Sources': Foreign Secy On Russian Oil Amid India-US Trade Deal

Last Updated:February 09, 2026, 19:06 IST

Foreign Secretary Vikram Misri said India, as a developing economy and a major net importer of oil and gas, must prioritise stable and affordable energy supplies.

India on Monday reiterated that its energy import policy is guided by national interest, consumer affordability and supply security, even as questions persist over whether New Delhi will halt purchases of Russian oil following a recently announced trade deal with the United States.

Responding to queries on India’s sourcing of Russian crude, Foreign Secretary Vikram Misri said India, as a developing economy and a major net importer of oil and gas, must prioritise stable and affordable energy supplies.

“When you are dependent to the extent of 80-85 per cent on imported energy, concerns about inflation driven by energy costs are natural," he said, underlining that safeguarding the interests of Indian consumers remains the government’s foremost priority.

Misri noted that global energy markets have faced significant uncertainty in recent years, affecting price stability and supply chains.

In that context, he said, India’s strategy has been to diversify sources of energy imports rather than rely on any single supplier.

“India is not just one of the largest consumers of energy, it also plays an important stabilising role in global energy markets. That is one reason why we import energy from multiple sources," he said.

Emphasising that availability, fair pricing and reliability are the key drivers of India’s import policy, the Foreign Secretary said data shows that India imports crude oil from dozens of countries.

“We are neither dependent on any single source nor do we intend to be. The mix of sources can vary from time to time depending on objective market conditions," he said, adding that greater diversification enhances energy security.

Misri also clarified that the actual sourcing decisions are taken by public and private sector companies, which assess market conditions, risks, costs and availability.

“These companies have their own internal accountability mechanisms. Whether it is the government or businesses, at the end of the day, national interest is the guiding factor," he said.

The remarks come amid lingering uncertainty after US President Donald Trump and Prime Minister Narendra Modi announced a long-awaited India-US trade deal last week.

Trump claimed that as part of the agreement, India would stop buying Russian oil and increase purchases from the United States. He also announced the removal of a 25 per cent tariff imposed earlier on India over its energy imports from Russia.

In a Truth Social post on February 2, Trump said PM Modi had agreed to stop purchasing Russian oil and to buy more energy from the US, and potentially Venezuela.

The US President later reiterated the claim in an executive order removing the penalty tariff, stating that India had committed to halting direct or indirect imports of Russian oil.

However, New Delhi has not explicitly confirmed any such commitment.

Earlier, the Ministry of External Affairs said India’s energy decisions would continue to be guided by the needs of its 1.4 billion people.

MEA spokesperson Randhir Jaiswal said diversifying energy sources in line with market conditions and evolving international dynamics remains central to India’s strategy.

According to reports, India imported about 1.215 million barrels per day of Russian crude in January, a decline from previous months.

Imports were down 12 per cent from December levels, following a sharper fall in December compared to November.

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