New Delhi

Foreign Secretary Vikram Misri on Monday said that India’s energy-related decisions will continue to be shaped by national interest, stressing that the country’s energy policy is anchored in ensuring sufficient supply, reasonable pricing, and dependable access. His remarks came amid reports suggesting that India may be scaling back oil imports from Russia.

Speaking at a special briefing organised by the Ministry of External Affairs (MEA), Misri said both government policy and commercial decisions in the energy sector are guided by broader national priorities, while clarifying how sourcing decisions are actually made.

He explained that oil procurement is handled by energy companies, which take decisions based on prevailing market realities. These include supply availability, risk evaluation, cost considerations, and logistical feasibility, while also complying with internal governance norms and fiduciary obligations.

“At any point, sourcing decisions involve a complex combination of factors, including financial viability and logistics. These are commercial judgments made by companies in line with market conditions,” Misri said, adding that such business decisions would continue to be influenced by considerations of national interest.

The Foreign Secretary pointed out that India is a net importer of oil and gas and, as a developing economy, must remain mindful of resource constraints and the inflationary impact of heavy import dependence.

“When a country depends on imports for nearly 80–85 per cent of its energy needs, fluctuations in global prices naturally raise concerns about inflation. That is why protecting the interests of Indian consumers remains our foremost priority,” he said.

Referring to recent instability in global energy markets, Misri said India, like many other nations, has a strong stake in maintaining price stability and uninterrupted supply. He noted that India plays an important role in contributing to balance and stability in global energy markets.

“Our aim is to ensure access to adequate energy at appropriate prices through secure and reliable supply chains. These principles guide our energy import strategy,” he said.

Misri also underlined that India follows a diversified approach to crude oil imports, sourcing energy from a wide range of countries rather than relying on any single supplier. He said the composition of imports naturally changes over time in response to market dynamics.

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“The core pillars of our energy policy are availability, affordability, and reliability. We import crude oil from dozens of countries and do not depend on one source alone. Diversification strengthens our energy security, and the broader the sourcing base, the more resilient we are,” the Foreign Secretary said.