New Delhi: Union Commerce Minister Piyush Goyal on Sunday asserted that purchasing crude oil, LNG, and LPG from the United States aligns with India’s strategic interests, as the country seeks to diversify its energy sources.
Responding to queries on US President Donald Trump’s condition linking the recent tariff relief to halting Russian oil imports, Goyal sidestepped a direct commitment, stating that such geopolitical matters fall under the Ministry of External Affairs (MEA).
In an interview with ANI, Goyal emphasised, “Buying crude oil or LNG/LPG from America is in India’s own strategic interests because we are diversifying our oil sources.” He clarified that the interim trade deal framework does not dictate specific purchase sources, with decisions left to companies based on commercial viability. “The deal won’t discuss who will buy what and from where,” he added.
The framework, announced earlier this week, reduces US reciprocal tariffs on Indian goods to 18% (from higher levels), granting India a competitive edge over other developing nations. Trump signed an executive order removing a 25% punitive tariff imposed on India for Russian oil purchases, though it includes monitoring provisions and a threat of reimposition if imports resume.
Goyal dismissed concerns that disagreements over Russian oil or defence could derail the pact, saying, “That won’t happen.” He highlighted the agreement’s focus on easier trade pathways, priority access, and safeguarding sensitive sectors like agriculture and dairy, ensuring no harm to farmers or rural livelihoods.
The MEA has maintained that oil procurement prioritises India’s 140 crore population’s needs, with buyers deciding sources independently. Goyal’s remarks come amid ongoing talks for a fuller bilateral trade agreement, positioning the interim deal as a step toward deeper economic ties without compromising national autonomy.