Hardeep Puri, India's Petroleum Minister, asserts that India's continued Russian oil imports have stabilized global energy prices. Discontinuing this trade would have caused prices to surge past $120 per barrel. Despite Western restrictions, India increased Russian oil procurement, preventing a significant global supply disruption, he has said.
source https://timesofindia.indiatimes.com/business/india-business/oil-prices-would-have-hit-120-130-india-says-its-oil-imports-from-russia-helped-global-markets-hardeep-puri-hits-out-at-critics/articleshow/122371057.cms
‘Oil would have hit $130…’: India says its imports from Russia helped global markets
July 11, 2025
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