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News Nation | Crude Oil: Petroleum Minister Hardeep Puri is saying this on Russian oil, will there be pressure on the government

Nov 17,2022

Union Minister Hardeep Singh Puri has given his point regarding the imposition of price cap on the oil imported from Russia. Union Petroleum and Natural Gas Minister Hardeep Singh Puri reached a program held in Greater Noida. Where he has clarified India's stand on oil imported from Russia. He has said that the central government of the country is currently not under any fear or pressure. In fact, on December 5, the G7 countries may take a new decision regarding imposing a price cap on the oil imported from Russia. 

Russian oil is getting cheaper for India 

Actually the whole matter is about buying cheap crude oil from Russia. India has been importing Russian oil for a long time because it is getting a good discount on crude oil from Russia. On the other hand, if you look at the domestic markets, you will find that the prices of petrol and diesel have remained stable in the country for a long time. According to the figures, India has also increased its import of oil from Russia. If we look at the figures of October last month itself, we find that 935,556 barrels per day were supplied from Russia to India. This figure is the biggest ever for importing oil from Russia. 

The Petroleum Minister has kept his point several times on foreign forums as well.
Union Petroleum and Natural Gas Minister Hardeep Singh has already clarified India's stand on several global forums. He has said many times that buying cheap crude oil from Russia is in the interest of the citizens of the country. In such a situation, the priority of India will be the citizens of the country. However, at the moment nothing can be said about what will be the new decision of India regarding the imposition of price cap.