Recently, the finance ministers of the G7 countries agreed to impose a price cap on Russian oil and called on India and China to join the initiative.. However, whether these countries will support the proposal is not yet known.. During the Gastech 2022 exhibition in Milan, India's Oil and Gas Minister Hardeep Singh Puri shed light on the government's position on the issue, CNBC reported..

“There is a lot of talk due to a lot of factors,” said the minister.

In his opinion, the global economy is still adjusting to the impact of the COVID-19 pandemic and Russia's full-scale invasion of Ukraine.. Therefore, considering the proposal to limit the price of Russian oil, India will weigh all the pros and cons: which countries will support the initiative and what could be the consequences of this step for energy markets.

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Hardeep Singh Puri also denied accusations against his country due to the increase in energy purchases from Russia after February 24. While as of March this year, the share of Russian imports amounted to only 0.2%.

“I said that Europeans buy more in one day than I do in a quarter. I would be surprised if it were otherwise. But yes, we will buy from Russia, we will buy anywhere,” said the Minister.

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According to Puri, India consumes about 5 million barrels of oil daily, and Iraq, Saudi Arabia, Kuwait and the United Arab Emirates are the main suppliers of raw materials to the country..

At the end of a conversation with reporters, the Minister of Oil and Gas of India, when asked if he had a moral conflict over the purchase of Russian energy resources, answered in the negative.

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No, there is no conflict. I have a moral obligation to my consumer. Do I want, as a democratically elected government, situations where the gas pump runs dry? Look at what is happening in the countries around India,” Puri said..