India Prioritizes Affordable Fuel Amid US Sanctions on Russian Oil Giants

India has reaffirmed its focus on affordable fuel for its citizens despite US sanctions on Russian oil companies. The Ministry of External Affairs emphasized that India's energy sourcing decisions are driven by market dynamics and national interests, maintaining a steadfast stance on Indo-Russian and Indo-US relations.

In light of recent US sanctions on Russia's largest oil companies, Rosneft and Lukoil, India has reiterated its commitment to prioritizing affordable fuel for its population of 1.4 billion people. The Ministry of External Affairs spokesperson, Randhir Jaiswal, assured that India's energy sourcing strategy remains guided by national interests.

Jaiswal highlighted that oil purchasing decisions are influenced by global market dynamics, ensuring affordable energy supply to citizens. Despite evolving international circumstances, India's focus will be on maintaining energy affordability and security. Several Indian firms have already adjusted their oil purchasing practices.

While US sanctions aim to undermine Russia's revenue streams amid the Ukraine war, India continues to nurture its multifaceted relationship with Moscow. Additionally, Indo-US trade negotiations remain ongoing, and India has secured a temporary exemption for its strategic Chabahar Port project related to Iran.

(With inputs from agencies.)