India’s energy sourcing will be driven by national interest, not geopolitics: Vikram Misri

India’s approach to crude oil sourcing, including purchases from Russia, will continue to be guided by national interest, market dynamics and supply security rather than dependence on any single geography, Foreign Secretary Vikram Misri said on Monday amid speculation that New Delhi has scaled back Russian oil imports.

Addressing a press conference on February 9, Misri underlined that India’s energy strategy is rooted in diversification and flexibility, allowing procurement patterns to shift in response to changing global conditions. “We are neither dependent on any single source for this, nor do we intend to be. And it is natural for the mix of sources to vary from time to time, depending on objective market conditions. Our approach is to maintain multiple sources of supply and diversify them as appropriate to ensure stability,” he said.

Energy security linked to a broader supplier base

Misri stressed that a diversified sourcing basket enhances energy security. “Therefore, I would say that the more diversified we are in this area, the more secure we are. So far, as actual sourcing of energy is concerned—again, all of you follow this closely, so you know that the actual sourcing is done by oil companies. Oil companies in the public sector, oil companies in the private sector. And they make decisions based on market conditions. They assess availability at any given point in time, they assess risks, they assess costs in this process,” he added.

He noted that decisions in the energy sector are driven by commercial considerations such as “adequate availability, fair pricing and reliability of supply.” Emphasising governance and accountability, Misri said that “all of these companies also have their own internal accountability-related processes to look at and certain fiduciary responsibilities in the market.”

India–US engagement adds another energy dimension

The comments come as India explores deeper economic engagement with the US under an interim India–US trade framework, which includes plans to purchase $500 billion worth of American goods over the next five years, including energy products.

However, Misri cautioned that India’s status as a major oil and gas importer necessitates a careful balancing act. “For a country like India,” which is a “net importer” in the oil and gas sector, policymakers have to be “conscious” about “resource availability.”

“Naturally, when you are dependent to the extent of 80–85% on an imported resource, you have to have concerns about the possibility of inflation driven by energy costs. So, it’s not surprising therefore that our foremost priority is to safeguard the interests of Indian consumers insofar as energy is concerned—to really ensure that they receive adequate energy at the right price and through reliable and secure supplies.”