Foreign secretary Vikram Misri on Monday made a case for the diversification of oil procurement without disclosing whether India had decided to stop buying Russian oil, and replace it with American and Venezuelan alternatives as repeatedly claimed by US President Donald Trump. ADVERTISEMENTAsked for a clarification on the Russian oil issue during a briefing on the Seychelles President’s visit, Misri went into a detailed explanation of how the government and oil companies approach oil trade in general. Our approach is to maintain multiple sources of supply and diversify them as appropriate to ensure stability. “They assess availability at any given point in time, they assess risks, they assess costs in this process. And obviously, all of these companies also have their own internal accountability-related processes to look at and certain fiduciary responsibilities in the market,’’ Misri said.

Source: The Telegraph February 10, 2026 02:54 UTC