India's Russia Oil Deal: A Global Price Stabilizer?

India’s Russia Oil Deal: A Global Price Stabilizer?

Petroleum and Natural Gas Minister Hardeep Puri asserted on Thursday, July 10, 2025, that India’s sustained imports of crude oil from Russia played a crucial role in maintaining global energy price stability.

He highlighted that a cessation of oil trade with Russia would have likely sent crude prices soaring to USD 120-130 per barrel.

This statement comes amidst ongoing global discussions on energy security and the impact of geopolitical tensions on oil markets.

The Minister’s comments underscore the complex interplay between international relations and energy economics, particularly for a large energy consumer like India. The implications for Indian consumers and the nation’s economic growth are significant, demanding careful consideration of energy policy going forward.

Karanveer Sharma

A dedicated journalist and legal expert with a passion for uncovering the truth and advocating for justice. With hands-on experience in investigative journalism, legal research, and case analysis, I possess a strong ability to break down complex legal and societal issues into clear, impactful narratives. My work is driven by a commitment to transparency, integrity, and empowering people with accurate, insightful information.