Hardeep Puri justifies India buying oil from Russia; 'we have to look after our interests'

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Friday averred that India has to look after its own interests when it comes to oil imports from Russia. He said that India imports only a small portion of the country’s oil requirements from Russia and was open to buying it if the terms were right. Noting that India is surrounded by Gulf nations, the Union Minister said that New Delhi’s total imports from Russia “are not more than 0.2%”. 

“We are situated close to gulf countries like Iran which has lot of oil…We’ve energy relations with Russia, we buy crude from them but our total imports are not more than 0.2 per cent, we’re open to buying if terms are right, we’ve to look after our interests,” Puri told ANI.

Union Minister’s remarks came in the backdrop of escalating Russia-Ukraine war which has now entered its 66th day. Ever since Russia announced the so-called “special” operation in Ukraine, the Western nations have united against Moscow by imposing sanctions. European nations have even rolled out plans to abandon Russia’s energy imports in the coming years, as the West stands in staunch support of Ukraine. India is among the handful of nations which has taken a neutral stance on the conflict while calling for peace and diplomatic means to resolve the war. 

Recently, the United States Secretary of State Antony Blinken also noted India’s oil imports from Russia and stated that New Delhi had to make its own decisions. While the West has imposed sanctions on Russia, its government officials and oligarchs, Moscow has reiterated by demanding payment of oil imports in rubles or facing suspension of the energy trade. 

Puri on hike in fuel prices amid war, after COVID-19 

The Union Minister also referred to the impact of the Russia-Ukraine war on fuel prices. He said, “We’re yet to recover from a pandemic, still feeding 80 crore people and looking after vaccines. There was military action in Ukraine…Oil prices went up from USD19.56/barrel to USD130…Centre charged Rs 32 excise on petrol-diesel, before Diwali we reduced it and rates went down”. 

Puri said that amid the war of words between the Centre and the Opposition over the fuel taxes, the Centre would welcome bringing petrol and diesel under the GST regime but the states are unwilling. “My understanding is the Centre would be happy in bringing petrol and diesel under GST… the fact of the matter is that the states aren’t willing for same. They make a killing from revenues of petrol, diesel and alcohol…when debt rises they blame others…Punjab is the case in example,” the minister said.

Additionally, taking a dig at the Opposition, Puri said that the government has “assumed its responsibility” in the fuel sector and the states should also take the onus on the issue of slashing the value-added taxes on petrol and diesel. Puri added, “Prime Minister Narendra Modi has been consistent. He has advocated for the best spirit of cooperative federalism pertaining to the issue of livelihoods. Burden sharing need not be equal, the Center has assumed its responsibility in the fuel sector, the states too should take onus”.

Image: AP/PTI/Pixabay