India to Continue Importing Affordable, Non-Sanctioned Crude Oil: Officials Tell Parliamentary Panel
New Delhi, Feb 12 : The government has reiterated that India will continue to import crude oil from countries offering the best prices and quality, provided the sources are not under international sanctions and align with the prevailing geopolitical situation.
Senior officials from the Ministries of External Affairs and Commerce conveyed this position during a meeting of the Parliamentary Standing Committee on External Affairs on Wednesday. The committee is chaired by Congress leader Shashi Tharoor.
Briefing reporters after the meeting, Mr. Tharoor said 28 of the 30 committee members were present and described the discussion as “extremely effective.” He noted that a significant portion of the meeting focused on the proposed Indo-US trade deal and the India-European Union Free Trade Agreement (FTA).
“All subjects, including Russian oil and agricultural products, were discussed in detail,” Mr. Tharoor said, adding that officials responded to every question with clarity and confidence.
According to Mr. Tharoor, the government emphasized that Indian oil companies would make procurement decisions based on commercial viability, geopolitical considerations, and compliance with non-sanctioned sources. The approach reflects India’s broader strategy of ensuring energy security while navigating complex global dynamics.
On trade negotiations, officials informed the committee that India is working towards finalizing an interim trade agreement with the United States. However, Mr. Tharoor said that further details of the agreement would be made public at an appropriate time, and stakeholders would need to wait for the finer points.
He also indicated that India is among the countries that have secured the lowest tariff rates in ongoing discussions, though specifics were not disclosed.
The meeting comes amid heightened global focus on energy supply chains and evolving trade partnerships, as India seeks to balance economic priorities with strategic interests.
