India’s Petroleum and Natural Gas Minister Hardeep Singh Puri delivered a blunt message about his country’s energy sovereignty: “India was never told not to buy Russian oil.” Speaking to CNN News18, Puri said New Delhi’s oil purchasing decisions are driven purely by national interest and price calculations, not external pressure.
The statement comes as Middle East instability continues to disrupt global energy supplies, pushing India to diversify its sources. India’s approach — buying oil wherever it is cheapest — has drawn scrutiny from Western nations seeking to isolate Russia economically, but New Delhi has consistently refused to alter course.
Meanwhile, Indian stock markets took a significant hit, with the BSE Sensex tumbling 719 points (nearly 1%) to settle at 73,524.26, dragged down by weak global cues and surging oil prices. The sell-off marked a second straight session of losses.
On the resource front, India’s state-backed joint venture KABIL acquired five critical mineral blocks in Argentina, a strategic move given that roughly 93% of India’s critical mineral requirements are currently met through imports — a vulnerability that exposes key industries to supply-chain disruptions.
