Buyer-seller relationship with Russia, says Hardeep Puri on crude purchases – Investing NewsEverything

New Delhi, Nov 2 (IANS) Petroleum Minister Hardeep Puri on Wednesday said that though India got discounted from Russia in May and June this year, there now exists a normal “buyer-seller” relationship between the two countries.

Replying to a question on crude oil supplies from Russia, the minister said that he has spoken a lot about it in interviews (referring to his interview to CNN on Tuesday in Abu Dhabi, where he had said that India had no moral conflict in buying Russian crude), but went on to say that “there is no discount in price from Russia. There were discounts in May and June but then others (countries) also started giving discounts. So now it’s a buyer-seller relationship (with Russia)”.

On fuel prices being stable for the past five months in the country, the minister said that though prices of oil and gas have been rising globally, the prices have not risen by that much in India.

“With quiet confidence we will navigate the situation,” he said.

–IANS

ans/vd