India’s oil buy helped maintain price stability: US ambassador Sergio Gor

NEW DELHI: US ambassador Sergio Gor lauded India’s role in maintaining stable oil prices around the world, saying Washington recognises ongoing purchases of Russian oil by the Indian govt are a part of this effort. The remarks by the ambassador follows the US’s decision last week, in the middle of the war in West Asia and the mounting threat to global energy supplies, to allow India a 30-day waiver to purchase Russian oil already at sea.

The North American ambassador said on X that India had been a great partner in maintaining stable oil prices around the world.




“The US recognises ongoing purchases of Russian oil are a part of this effort. India is one of the largest consumers and refiners of oil and it is essential for the US and India to work hand in hand for market stability for Americans and Indians,” said the ambassador.

The Biden administration had allowed India to purchase Russian oil, saying this procurement at a price cap prevented oil prices from going up. However, the US under President Donald Trump imposed an additional 25% tariff on India for buying Russian crude, accusing New Delhi of bankrolling Russia’s war on Ukraine.



The White House said on Tuesday that it reached the decision to allow India to “accept” Russian oil already on ships, as allies in India were “good actors”.

Scott Bessent, treasury secretary, said this would lessen pressure caused by conflict in West Asia.