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India studying impact of sanctions imposed on Russian oil sector — MFA

According to Indian foreign ministry spokesman Randhir Jaiswal, India guided by the goal of ensuring affordable energy from diverse sources to meet the energy security needs of 1.4 bln people

NEW DELHI, October 30. /TASS/. India is studying the implications of new sanctions imposed on Russia's oil sector and will act considering the changing circumstances, Indian foreign ministry spokesman, Randhir Jaiswal, told a briefing.

"We are studying the implications of those sanctions," he said. "We make decisions naturally, considering the changing dynamics of the global market," the diplomat added. "We will have to evaluate for ourselves what consequences they will have for us," the spokesman noted.

India's broader position on energy sources is well known, Jaiswal said. "In this regard, we are guided by the goal of ensuring affordable energy from diverse sources to meet the energy security needs of 1.4 bln people," he said.

The US previously imposed sanctions against Rosneft and Lukoil and a number of their subsidiaries. Subsequently, the European Union officially approved the 19th package of sanctions against Moscow, which included sanctions against more than 100 tankers and a number of individuals and entities.

Russia remains India's main oil supplier. In September, Russia's share of total oil imports reached 33.3%. Last month, India imported 1.6 mln barrels of oil per day from Russia. This is 6% less than in August when the country imported 1.7 mln barrels per day.

India is the world's third-largest oil consumer, with a high level of dependence on imported oil, which meets more than 85% of the country's energy needs. Indian refineries purchase oil from more than 30 countries.