India stated it will continue importing Russian oil after US temporarily granted sanctions waiver. India emphasized it remains well-stocked with more than 250 million barrels of crude and petroleum products to handle short-term disruptions. Global crude prices jumped 8.5% on Friday and were up nearly 30% for the week after US President Donald Trump said only unconditional surrender of Iran would end Middle East war.
India maintains energy independence and strategic reserves to manage global oil market volatility amid Middle East geopolitical tensions
*Business event analysis, not a stock prediction.
Statement comes amid escalating Middle East conflict and global energy market volatility