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India reacts to US sanctions on Russian oil companies: 'Decisions we take based on evolving...'
The US last week imposed sanctions on Rosneft and Lukoil in a bid to pressure Moscow into ending its war in Ukraine.
India on Thursday said that it is studying the implications of sanctions imposed by the United States against two Russian oil firms.
“Regarding US sanctions on Russian oil companies, we are studying the implications of these sanctions. As we have said before, the decisions we take naturally take into account the evolving dynamics in the global market,” MEA spokesperson Randhir Jaiswal said during a briefing, according to PTI.
"Our position on the larger question of energy sourcing is well known. In this endeavour, we are guided by the imperative to secure affordable energy from diverse sources to meet the energy security requirements and needs of 1.4 billion people,” he added.
The US last week imposed sanctions on Rosneft and Lukoil in a bid to pressure Moscow into ending its war in Ukraine.
Russia currently supplies nearly a third of India's crude imports, averaging around 1.7 million barrels per day in 2025, of which approximately 1.2 mbd came directly from Rosneft and Lukoil, according to PTI.
On Tuesday, HPCL-Mittal Energy Ltd., a joint venture of Lakshmi Mittal's Mittal Energy and Hindustan Petroleum Corp. Ltd., said that it has stopped buying Russian crude oil.
HMEL is the first Indian firm to officially announce suspension of Russian oil imports after the US sanctioned two of Moscow's biggest oil firms.
“HMEL had already taken the decision to suspend purchases…pending receipt of any outstanding orders,” the company said in a statement. The company operates an oil refinery in Punjab's Bhatinda.
