India recently revealed how it may have saved the world from a massive oil crisis. During an energy conference in Abu Dhabi, India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, shared a bold statement: if India had stopped buying oil from Russia, global oil prices could have shot up to a shocking $200 per barrel.
Puri explained that India’s decision to continue buying Russian oil wasn’t just about local interests—it helped keep oil prices from spiraling out of control globally. Calling it a “favor to the world,” he emphasized that India’s energy policy is based on “pragmatism.” In other words, India’s goal is to secure affordable energy for its citizens, and Russian oil offered the best deal.
The minister also pointed out that Russia’s oil wasn’t banned but only limited by a Western-imposed price cap. India respected this cap but didn’t ignore the chance to buy oil at a competitive rate when other countries, including European and Asian nations, were also purchasing Russian energy. Puri added that with India being the world’s third-largest oil consumer, the country is committed to finding the most affordable options, regardless of where they come from.
Puri then highlighted India’s October decision to reduce Russian oil imports by 10%, which showed how India’s energy approach is flexible. As more competitive offers appeared, India was ready to shift suppliers. According to Puri, this competition allows India to keep energy prices stable for its economy and citizens. He stated that India’s priority is straightforward: steady, affordable energy for its millions of citizens.
Addressing critics, he had strong words for “ill-informed commentators” who questioned India’s choice to keep buying from Russia. On social media platform X, Puri defended the government’s energy policy, pointing out that many other countries are also engaging in energy trade with Russia. This isn’t just an Indian move—many nations are looking out for their own energy needs and are ready to take similar pragmatic steps.
For India, the approach is clear: affordable fuel and economic stability come first. As Puri put it, “India will buy energy from those who offer the best deals.”
