India has done a favor to the world by buying oil from Russia. Union Petroleum and Natural Gas Minister Hardeep Singh Puri has said this big thing. He has written a post on the social media platform X. He wrote, ‘India has done a favor to the whole world by buying oil from Russia. Because if we had not done so, global oil prices would have reached $ 200 per barrel.’ In this way, Puri has given a befitting reply to those who criticized India for buying cheap Russian oil. Puri has also shared a video in his post, in which he is seen giving an interview.
There were no sanctions on Russian oil.
The Union Minister stressed that there was no ban on Russian oil, but a price cap. He said that Indian institutions have followed it. Puri said, ‘Some ignorant commentators had talked about banning India from buying Russian oil. Whereas many European and Asian countries have also bought billions of dollars worth of crude oil, diesel, LNG, and other important minerals from Russia.’
We will buy energy from whoever gives it cheaper.
Puri further said that we will continuously buy energy from all those who are offering the lowest rates to our companies. This is the confidence of PM Narendra Modi’s leadership. He said, ‘We will ensure stable availability, affordability and sustainability of energy for our 7 crore citizens who visit petrol pumps daily. This is our top priority.’
Prices have come down in India.
Hardeep Singh Puri said that India is the only big oil consumer where oil prices have fallen significantly in the last 3 years, while in other countries prices have skyrocketed. India, the world’s third-largest oil consumer, is dependent on foreign purchases for more than 80% of its oil needs. On Friday, crude oil WTI futures were seen trading at $ 71.87 per barrel and Brent crude at $ 75.19 per barrel.