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regular-article-logo Thursday, 05 February 2026

India cites need to 'diversify' oil procurement after Trump claims Delhi will stop buying Russian crude

BJP MP Harsh Vardhan Shringla said that India had been procuring 30-40 per cent of its oil requirements from Russia, but such purchases had been declining over the past three-four months because the price difference between Russian crude and those from other countries had narrowed

Our Special Correspondent Published 05.02.26, 07:27 AM
India oil diversification Russia

Piyush Goyal speaks in the Rajya Sabha on Wednesday. PTI

Commerce minister Piyush Goyal on Wednesday did not counter US President Donald Trump’s claim a day earlier that Prime Minister Narendra Modi had agreed to stop buying Russian oil, instead averring that diversifying energy purchases is in keeping with evolving market conditions and international dynamics.

Stating that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government, Goyal said in his statement in the Rajya Sabha on the India-US trade agreement that “diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this”.

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“All of India’s actions are taken with this in mind. I would therefore urge the Hon’ble members to consider these issues in their proper perspective,” he said.

Goyal did not directly mention Russian oil but appeared to be addressing a question being asked by Opposition parties on whether India had decided to stop buying crude from that country.

BJP MP and former foreign secretary Harsh Vardhan Shringla had on Tuesday told the House that India had been procuring 30-40 per cent of its oil requirements from Russia, but such purchases had been declining over the past three-four months because the price difference between Russian crude and those from other countries had narrowed. Also, Russia is facing sanctions, making the procurement of that country’s oil difficult.

While announcing the trade deal on Monday, Trump had claimed India had committed to “buy American at a much higher level in addition to over $500 billion of US energy, technology, coal and many other products”. Goyal on Wednesday sought to underscore that the two economies were largely complementary.

“As India proceeds on the path of Viksit Bharat, we will need to grow our capacities enormously in multiple sectors, including energy, aviation, data centres, nuclear power, etc., to name only a few,” he said. The sectors he named are among those the US wants India to buy from.

Taking part in the discussion on the motion of thanks to the presidential address, leader of the Opposition Mallikarjun Kharge described the deal as a death knell for Indian farmers.

“Indian farmers will be devastated by this deal. US agriculture secretary Brooke L. Rollins has said the US will export products to India and that this will pump cash into rural America. It means our farmers will be crushed and you want to finish them. Are you working for the welfare of farmers or against them? Whatever America sends, there will be zero tariffs too?” Kharge said.

“You had promised to double farmers’ income. I appeal to you to keep the farmers alive at least. The farmers will rise against this and you will have to take it back,” he added.

Kharge said Trump telling India to buy oil from Venezuela was an attack on India’ssovereignty.

Opp anger

The Opposition on Wednesday protested the government’s decision to speak to the media on the India-US trade deal on Tuesday, bypassing Parliament and then refusing to allow them to seek clarifications.

The information about the deal was first disclosed by Trump on Monday evening through X. Modi thanked Trump on the social media platform.

In the Rajya Sabha, the Opposition parties had demanded a statement from the government on Tuesday. The leader of the House in the Rajya Sabha, J.P. Nadda, had promised that the minister would make a statement on Tuesday. However, nostatement was made while Goyal spoke to the media on this issue.

At 2pm on Wednesday, Goyal read out a statement in the Rajya Sabha. When members wanted to seek clarification, Chairman C.P. Radhakrishnan refused the request on the ground of “broader national interest”.

“I urge upon the honourable members to recognise the gravity of the matter andthe broader national interest involved and maintain decorum in the House,” Radhakrishnan said.

CPM MP John Brittas pleaded that members be allowed to raise questions. The Chairman did not allow this too.

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