India to maintain diversified energy sourcing, national interest to guide oil imports: Foreign Secretary Misri

India will continue to maintain multiple sources of energy and diversify its imports to ensure stability, with national interest serving as the primary guiding principle, Foreign Secretary Vikram Misri stated on Monday. His remarks come amid heightened scrutiny over India’s oil purchases from Russia following a recent trade deal with the United States.

Addressing the media during a visit by the President of Seychelles, Misri emphasized that India, as one of the world’s largest energy consumers, plays a critical role in stabilizing global energy markets. “Our approach is to maintain multiple sources of supply and diversify them as appropriate to ensure stability. The more diversified we are, the more secure we are,” he said.

Misri’s clarification comes after US President Donald Trump issued an executive order last Friday removing a 25% punitive tariff on Indian exports, contingent on New Delhi ceasing its purchases of Russian oil. The trade deal requires India to purchase US goods, including energy and technology, valued at $500 billion over five years. Trump’s order further warned that the punitive levy could be reinstated if India resumes importing Russian oil.

The foreign secretary underscored that business decisions regarding energy imports are based on multiple considerations, including availability, pricing, reliability, logistics, risk assessment, and fiduciary responsibilities of Indian companies. However, he reiterated that national interest remains the ultimate guide in all choices.

Highlighting India’s energy import profile, Misri noted that the country imports nearly 85% of its energy and faces potential inflationary pressures from global energy costs. Safeguarding consumer interests by ensuring adequate and affordable energy supplies remains the government’s foremost priority. He stressed that India neither depends on a single source of energy nor intends to, and the mix of suppliers may shift depending on market conditions.

Historically, India increased purchases of discounted Russian crude after Western sanctions on Moscow following the 2022 Ukraine invasion. Russian oil, which once made up less than 1% of India’s crude imports, rose to 35–40% in recent years. While imports from Russia have recently decreased to under 25% due to growing energy purchases from the US, Misri indicated that there are no current plans to entirely halt Russian oil imports.

“Significant uncertainties in the global economy in recent years have impacted energy market stability. India, along with other nations, shares a common interest in ensuring secure supplies and stable prices,” he added, reaffirming the country’s commitment to balanced and pragmatic energy policies.

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