India says it can replace Russian crude if sanctions bite

India is prepared to secure its oil needs from alternative sources if imports from Russia are disrupted by secondary sanctions, the country's Oil Minister, Hardeep Singh Puri, said on July 17.

Speaking at an industry conference in New Delhi, Puri expressed confidence that India would manage any fallout from potential restrictions on Russian oil, Caliber.Az reports, citing foreign media.

His comments came after US President Donald Trump warned earlier this week that countries continuing to trade with Moscow could face sanctions if Russia fails to reach a peace deal with Ukraine within 50 days.

"I'm not worried at all. If something happens, we'll deal with it," Puri said. "India has diversified its oil supply sources – we used to buy from about 27 countries, now it's around 40."

He highlighted new producers such as Guyana, alongside traditional suppliers like Brazil and Canada, as part of India’s growing pool of partners. India is also ramping up its own oil exploration and production efforts to strengthen energy security.

Despite ongoing tensions, Russian oil remained India's largest single source of crude in the first half of the year, accounting for roughly 35% of imports. Private refiners including Reliance Industries and Nayara Energy were responsible for around half of these purchases.

However, officials noted that India could swiftly revert to its earlier supply model if needed. The chairman of Indian Oil Corporation, A.S. Sahney, said the company would return to the pre-Ukraine crisis sourcing approach, when Russia supplied less than 2% of India's crude.

Other major suppliers to India include Iraq, Saudi Arabia and the United Arab Emirates.

By Aghakazim Guliyev