TV9 Bharatvarsh | Union Minister Puri was candid on the purchase of oil from Russia, said – there is no pressure on Modi government

Nov 01,2022

Union Petroleum and Natural Gas Minister Hardeep Singh Puri has given a befitting reply to a CNN journalist to the questions asked about the purchase of oil from Russia. The journalist had asked whether India does not hesitate to import so much from Russia? To this, Puri replied that the Modi government was not under any kind of pressure. He also said that India is not in any moral opposition to buying oil from Russia.

CNN's Becky Anderson asked Puri whether India is hesitant to buy so much from Russia? To this the minister replied, 'At all, there is no moral protest of any kind. If one wants to take an ideological position…we don't buy from X or Y, we buy whatever is available. I do not buy, there are oil companies, which do the work of buying. Puri defended India's purchase from Russia, saying that India buys only 0.2 percent of Russian oil and not 2 percent.

Will India benefit from Russia's concessional rates?
When asked whether India is benefiting from Russia's concessional rates? Puri said, 'First let me correct you for one thing that the purchase of Russian oil by India was not 2 percent, it was 0.2 percent. In addition, we still buy as much oil in a quarter as Europe buys in an afternoon. When asked what would be India's backup plan if the western countries decide to tighten the restrictions on oil imports from Russia?

'No pressure on Modi government'
Responding to this, Puri said, 'We have many backup plans. I don't see things the way you see them. We are in talks with America and Europe. We are not feeling any pressure. There is no pressure on the Modi government. We are the fifth largest economy in the world. India is a country which is constantly making changes. When oil prices are increased, they have two consequences. First- inflation and recession, second- we will transition to green energy.

The Union Minister also dismissed the rumor that Russia supplies most of the oil in India. Puri said, “Russia is not the largest supplier of oil to India, Russia has supplied only 0.2 per cent of the oil. Now, it is one of the top four or five suppliers. In fact, Iraq was the biggest supplier last month, so there is no misunderstanding anywhere.