NEW DELHI, India – India said Thursday that discussions are underway with the United States on enhancing energy cooperation between the two countries.
This comes hours after US President Donald Trump announced that India had pledged to stop purchasing oil from Russia.
In response to Trump’s announcement, the Indian Ministry of External Affairs stated that India has a consistent priority to protect the interests of Indian consumers amidst energy market volatility.
She added that ensuring stable energy prices and securing supplies are two key goals.
She explained that India is working to diversify its energy sources and expand their scope to meet market requirements.
Meanwhile, informed sources told Reuters that some Indian refiners are preparing to reduce their imports of Russian oil.
With expectations that this will happen gradually.
This came after US President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi had pledged to stop purchasing oil from Russia.
Trump said he would then try to push China to take a similar step as Washington intensifies its efforts to cut off Moscow’s energy revenues.
India and China are the largest buyers of Russian seaborne oil exports.
They benefit from the lower prices Russia was forced to accept after European buyers avoided importing from it and the United States and the European Union imposed sanctions on Moscow over its invasion of Ukraine in February 2022.
