India Unfazed by Sanctions Threat, Sets Sights on Hydrocarbon Self-Reliance: Hardeep Puri

As the global energy chessboard continues to shift amid geopolitical tensions and sanctions, India is charting its own course—firmly and confidently. At the recently held Urja Varta 2025, Union Petroleum Minister Hardeep Singh Puri laid out a bold energy roadmap, dismissing US sanctions fears while unveiling ambitious plans to deepen domestic oil and gas exploration. His message was clear: India's energy strategy is resilient, diversified, and future-ready.

“Not Worried At All”: India Stands Its Ground on Russian Oil

Amid mounting international pressure over energy trade with Russia, Puri made it clear that India remains “unfazed” by potential secondary US sanctions. Responding to threats of tariffs from former US President Donald Trump on countries continuing to buy Russian oil, Puri stated confidently,

“I am not worried at all. If something happens, we will deal with it. Ek darwaza band hota hai to doosra khul jata hai.”

India, which began purchasing discounted Russian oil in 2022 following Western sanctions on Moscow, now sources nearly one-third of its oil from Russia—up from less than 1% before the Ukraine conflict. The minister emphasized that India has widened its oil sourcing basket from 27 to 40 countries and is actively importing from Argentina and looking to increase supplies from Brazil.

“Even Turkey, China, Brazil, and parts of the EU have bought oil and gas from Russia,” Puri added, stressing the global nature of energy markets.

He cautioned that removing Russian oil from global supply chains could have sent oil prices soaring to $130 per barrel. “Russia accounts for 10% of global production. If Russian oil was excluded, the impact on prices would have been drastic,” he noted.

Energy Security Over Politics: India’s Growing Influence

While the possibility of secondary tariffs looms large and could affect Indian refiners by making Western imports more expensive, Puri reaffirmed that India is well-prepared to navigate such disruptions. “We have enough oil around,” he said, underscoring India’s pragmatic approach to energy diplomacy.

He also addressed the possibility of importing from Iran: “No situation remains the same forever. Iran is still supplying, but we are not buying. I will not buy from Iran,” he clarified.

India’s Hydrocarbon Hunt: Bold Vision for Energy Self-Reliance

Beyond imports, the minister unveiled ambitious plans to ramp up domestic oil and gas exploration under the Open Acreage Licensing Policy (OALP). Speaking during a fireside chat titled Manch Mantri Ka, Puri shared that India is set to drill and explore over 2,00,000 sq. km under OALP Round-10, with a target to increase exploration acreage to 0.5 million sq. km by 2025 and 1 million sq. km by 2030.

He hinted at massive potential discoveries in underexplored regions, stating,

“I am positive we will find several fields of the size of Guyana, particularly in the Andaman Sea.”

These efforts are being backed by a strong framework aimed at attracting investors—ranging from high-quality data availability and financial incentives to regulatory reforms and ease of doing business. "We are making India the next global frontier for oil and gas exploration and production," Puri asserted.

Balancing the Energy Trilemma

India’s energy policy, according to Puri, is successfully balancing the trilemma of availability, affordability, and sustainability—a feat made more challenging amid global uncertainties. “Despite geopolitical situations, the energy needs of our citizens remain the top priority,” he said.

He also highlighted significant policy reforms such as HELP (Hydrocarbon Exploration and Licensing Policy), the opening up of nearly one million sq. km of previously “No-Go” areas, and amendments to the Oilfields Regulation and Development Act—steps aimed at boosting domestic hydrocarbon production.

As the world grapples with volatile oil prices, shifting alliances, and climate imperatives, India is positioning itself not just as a major consumer—but as a confident, future-facing player in the global energy landscape. Whether it’s resisting pressure over Russian oil or launching one of the world’s most ambitious exploration programs, the message from Urja Varta 2025 was unmistakable: India is not just keeping pace—it is setting the pace.