India He has done the world a favor by buying oil from Russia. Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said a great thing. He has written a post on social media platform X. He wrote, “India has done a favor to the entire world by buying oil from Russia. Because if we hadn’t done this, world oil prices would have reached $200 per barrel. In this way, Puri has given a befitting response to those who criticize India for buying cheap Russian oil. Puri also shared a video in his post, in which he is seen giving an interview.
There were no restrictions on Russian oil.
The Union Minister stressed that there are no restrictions on Russian oil, but rather a price limit. He said Indian institutions have followed this. Puri said: ‘Some ignorant commentators had talked about banning India from buying Russian oil. While many European and Asian countries have also purchased crude oil, diesel, LNG and other important minerals worth billions of dollars from Russia.
It will buy energy from whoever gives it cheaper.
Puri further said that we will continuously purchase power from all those who offer the lowest tariffs to our companies. This is the confidence of Prime Minister Narendra Modi’s leadership. He said: ‘We will ensure stable availability, affordability and sustainability of energy for our 7 million citizens who visit the petrol pumps every day. This is our top priority.
Prices have fallen in India
Hardeep Singh Puri said that India is the only major oil consumer where oil prices have fallen significantly in the last 3 years, while in other countries prices have skyrocketed. India, the world’s third-largest oil consumer, depends on foreign purchases for more than 80% of its oil needs. On Friday, WTI crude oil futures were trading at $71.87 per barrel and Brent crude oil at $75.19 per barrel.
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