India's Strategic Oil Choices Amidst Global Sanctions

India's international oil purchase decisions prioritize national interests, as discussed in Parliament. While addressing questions on U.S. sanctions on Russian energy, India's Ministry of External Affairs emphasized prioritizing national considerations and sensitizing stakeholders. The U.S. has implemented restrictions impacting various entities in the Russian energy sector, with potential implications for India's oil sector.

India is taking a calculated approach to international oil purchases, focusing on its national interests despite global geopolitical pressures. This stance was clarified by the Centre in a parliamentary session, highlighting the complexity of geopolitical influences on energy policy.

The Ministry of External Affairs elaborated in the Rajya Sabha on questions about U.S. sanctions targeting more than 400 Russian energy-related entities. MEA Minister of State Kirti Vardhan Singh provided insights into the U.S. sanctions that cover significant players and services in Russia's energy sector.

The U.S. has declared a 60-day transitional phase for entities dealing with these sanctioned Russian parties. In response, the Indian government is prioritizing the national interest, ensuring all stakeholders in its oil industry are aware of potential impacts, thereby striving to mitigate any adverse effects on its energy security.

(With inputs from agencies.)