Back in March 2022, when there were concerns that Russian oil might be banned or removed from the global market (due to the Ukraine war), it caused a lot of panic. Global oil prices shot up sharply, with Brent crude oil reaching $137 per barrel.

Trump made the statement on Friday, calling the potential move “a good step” if true. But Indian officials pushed back, reiterating that India’s energy policy is grounded in national interest and driven by economic realities.

Indian government officials have clarified that the country continues to import oil from Russia, contrary to recent statements by US President Donald Trump. These purchases are driven by economic and strategic needs,