India’s oil imports guided by national interest, says foreign secretary

India’s decisions on importing oil will continue to be guided by “national interests”, Foreign Secretary Vikram Misri said on Monday.

The official neither confirmed nor denied United States President Donald Trump’s claim that New Delhi has committed to ending purchases of Russian oil.

Addressing reporters at a briefing on the visit of Seychelles President Patrick Herminie, Misri said that whether decisions were taken by the government or by businesses, national interest would remain the guiding factor.

The foreign secretary said India’s energy policy was driven by “adequate availability, fair pricing and reliability of supply”, describing energy sourcing as a “rather complex matrix of issues”.

Misri added that India’s approach was to maintain multiple sources of supply and diversify them to ensure stability. “I would say that the more diversified we are in this area, the more secure we are,” he said.

India is a net importer of oil and gas, with around 80% to 85% of its energy requirements met through imports.

Notably, Misri did not respond directly to Trump’s executive order issued on Friday that removed the additional 25% punitive tariff on Indian goods imposed for New Delhi’s purchase of Russian oil, bringing the effective US tariff rate on Indian imports down to 18%.

The order warned that the tariffs could be reimposed if India resumed...

Read more