Washington : On Saturday , US President Donald Trump stated that the move to temporarily enable India to purchase Russian oil is meant to relieve pressure on global energy markets as tensions continue to disrupt supply channels in West Asia and the Persian Gulf.
His words came after Scott Bessent, the US Treasury Secretary, stated once more that the US has granted India “permission” to absorb Russian oil in light of the deteriorating security situation in Western Asia. The decision comes as there are growing concerns that security tensions around the Strait of Hormuz may disrupt global oil supply.
To relieve some of the pressure: Donald Trump
Speaking to reporters aboard Air Force One, Trump responded, “If there were some, I would do it just to take a little of the pressure off,” when asked about Bessent’s announcement of temporarily permitting some Russian oil sales to India and whether the US is considering any other actions, including the SPR.
He went on to say, “I think the oil pressure– there’s a lot of oil.” We have a plenty of oil. There is a lot of oil out there in our land. “That’ll be healed quickly.”
VIDEO | On Board Air Force One: On taking additional steps after allowing certain Russian oil sales to India, US President Donald Trump (@POTUS) says, "I would do it just to take a little of the pressure off. We've got a lot of oil. Our country has a tremendous amount, and we… pic.twitter.com/ewg6938oGU
— Press Trust of India (@PTI_News) March 8, 2026
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India does not require anyone’s permission to purchase oil.
However, India has stated unequivocally that it will continue to acquire crude oil from whichever source gives the most affordable pricing, even while tensions near the Strait of Hormuz remain high during the Iran-US-Israel conflict.
India also stated that it continues to purchase Russian oil, citing a temporary permission provided by the United States in response to the Middle East conflict. The Centre stated that New Delhi does not need authorisation from any country to make such purchases.
“India has never depended on permission from any country to buy Russian oil,” the government claimed. “India continues to import Russian oil even in February 2026, and Russia remains India’s largest crude oil supplier.” Despite US and EU opposition, India continued to import Russian oil during the three-year Russia-Ukraine war. Imports surged dramatically after 2022, owing to lower prices and refinery demand.
Nearly 40% of India’s oil imports come from the Middle East, with a major part delivered through the strategically crucial Strait of Hormuz.
Notably, according to insiders, India reviews its energy situation twice a day and is highly confident in its energy security. India’s present stock position is likewise considered comfortable, with stocks refilled on a daily basis.
According to news agency sources, the world has an abundance of LPG, LNG, and crude oil.
According to the sources, the country now has more energy supplies from a variety of sources than the amount that could be impacted by the Strait of Hormuz. India’s existing crude oil and petroleum product reserves are sufficient to supply domestic demand.
They noted that India’s crude import basket has varied greatly in recent years. Since 2022, India has been purchasing Russian crude oil. In 2022, Russia contributed for only 0.2% of India’s total oil imports. However, their contribution has increased significantly in subsequent years.According to government statistics, Russia accounted for almost 20% of India’s total crude oil imports in February, or over 1.04 million barrels per day.
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