India's Stance on Russian Oil Trade Amid Global Criticism

Oil Minister Hardeep Singh Puri firmly dismissed claims suggesting India has become a 'laundromat' for Russian oil. Responding to criticism from White House trade adviser Peter Navarro, Puri emphasized that India's energy trade has adhered to global rules, contributing to market stability since the outbreak of the Ukraine conflict.

In his detailed article published in The Hindu, Puri pointed out that India's status as the fourth-largest exporter of petroleum products long predates Russia's invasion of Ukraine. He argued that the nation's export volumes and margins have remained consistent, countering accusations of profiteering.

Puri critiqued the comments by Navarro, underscoring that Russia's oil supply under a G-7 and European Union price cap scheme allows for legal transactions. He highlighted India's compliance with international norms, which prevented a drastic rise in oil prices, maintaining market equilibrium.

(With inputs from agencies.)