NEW DELHI: Amid rising global energy prices and escalating tensions in West Asia, Russian Ambassador to India Denis Alipov on Thursday reiterated Moscow’s willingness to supply crude oil to India, even as instability in the region poses a threat to New Delhi’s energy security.
“We have been open to supplying crude oil to India,” Alipov told reporters, responding to questions on Russian crude in the context of the ongoing West Asia crisis.
The announcement comes as global oil and gas prices surged following Iran’s effective blockade of the Strait of Hormuz after the killing of its Supreme Leader Ali Khamenei in a US-Israel military strike, which prompted Iran to launch attacks on US military bases across the West Asian region, including in the UAE, Bahrain, Kuwait, Jordan and Saudi Arabia. The past few days have witnessed a series of retaliatory strikes, raising fears of a wider regional confrontation.
Russia has strongly condemned the US-Israel operation.
President Vladimir Putin described Khamenei’s killing as a “cynical violation of all norms of human morality and international law” and termed the strikes “premeditated and unprovoked acts of aggression” aimed at toppling a government that resisted foreign pressure.
India’s procurement of Russian crude has fallen sharply in recent weeks after US President Donald Trump announced a trade deal with New Delhi and linked tariff relief to India limiting purchases of Russian oil.
The US has indicated it will monitor India’s imports to determine whether additional tariffs would be reinstated.
Government sources say India’s energy supplies are being continuously replenished and the country remains in a “reasonably comfortable position” despite concerns over disruptions in global oil routes. While the Strait of Hormuz accounts for around 40 per cent of India’s energy imports, the remaining 60 per cent is sourced from alternative routes and suppliers, helping cushion the impact of any potential disruption.
According to officials, India currently has sufficient stocks of crude oil and refined petroleum products such as petrol and diesel for about 25 days each, providing a combined buffer of around 50 days of energy sufficiency.
“We are in a reasonably comfortable position as far as crude oil is concerned,” a government source said.
“We have crude oil in reserve for 25 days, alongside energy products for 25 days as well,” the source added, indicating that supplies continue to be replenished through ongoing imports and domestic reserves.