India Averted $130 Oil Crisis by Buying Russian Crude, Says Minister Hardeep Singh Puri

by Carbonmedia
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Union Petroleum Minister Hardeep Singh Puri has come out swinging in defence of India’s continued import of Russian crude oil, stating that India played a key role in stabilising global oil prices during the Ukraine war. Speaking at the OPEC International Seminar in Vienna, Puri said a sudden halt of Russian oil, which makes up 10% of global supply, would’ve caused chaos, pushing oil prices to $120–130 per barrel. He clarified that Russian oil wasn’t under sanctions, but subject to a Western price cap, and India’s decision to buy within that cap helped maintain market stability. Critics, he said, don’t understand energy market dynamics. India, under PM Modi, has helped balance availability, affordability, and sustainability.#india #russia #russianoil #oilprices #opec #hardeepsinghpuri #energypolicy #crudeoil #modigovernment #ukrainewar #globalenergy #lpg #petroleumminister #energysecurity #discountedoil #geopolitics #oilimport #indianeconomy #energymarket #indiaoilstrategy #modinomics #toi #toibharat #bharat #trending #breakingnews #indianews

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