The Central Minister for Petroleum and Natural Gas, Hardeep Puri, noted that India took advantage of discounts on crude oil and purchased it at a lower price without any hesitation. Hardeep Singh Puri commented on the price cap imposed by Western countries on Russian oil, stating: 'I am a sardar outside, but in energy matters, I am a businessman.'
Hardeep Puri explained that his approach is based on commercial foresight, and buying cheap fuel is in the country's interest. He made this statement during the 29th Energy Technology and Innovation Meeting (ETM 2026), which took place on October 27, 2026, in Goa.
The Minister reported that one of his American partners advised him not to miss the opportunity to buy oil at a reduced price. Despite statements from European countries, he chose the more affordable option over expensive fuel. Puri said: 'There was a colleague named Mos. He called me and said: we have no problem, buy oil from Russia, but it would be better if you buy oil at low prices.'
He continued that the imposition of the European price cap means the inability to buy expensive oil. Puri added: 'For a person like me, this was good news because I am a sardar outside, but in energy matters, I am a businessman. Therefore, I said: I can buy oil, and I can buy it cheaply, that was very good, so we bought the oil.'
These statements came amid discussions about pressure on India to reduce imports of Russian oil. Previously, Puri clarified that he did not feel pressure from America. He emphasized that India makes decisions based on its national interests. Before the war, the share of Russian oil imports in India was only 0.2 percent, but after receiving discounts, this figure has significantly increased. Currently, refineries are increasing purchases from sources, including the Middle East, based on prices and availability.
At the same event, Hardeep Puri reiterated that India has never felt pressure from America regarding oil procurement. He noted: 'I have never felt pressure, and I do not think my bosses ever exert pressure.' He also added that it is beneficial for world peace if global energy prices remain low.