NEW DELHI, July 2. /TASS/. India has the wherewithal to supply fuel to Russia if needed, Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri said at a press conference.

"We could potentially supply [fuel to Russia] if needed," the minister said responding to a question about whether New Delhi supplies fuel to Russia. He emphasized that India is the fourth-largest oil refiner the world.

"It depends on how the situation develops," Puri added.

He noted that India has not stopped exporting petroleum products to other countries.

"We have never stopped exports, even during times of crisis, and we will continue [to export]," he said.

Earlier, Russian Deputy Prime Minister Alexander Novak told TASS that Russia had sufficient fuel reserves to supply the domestic market, but the stir around the situation with gasoline had led to a demand increase of approximately 20-30%. However, he added, "the system's logistics connections are currently being restructured to meet needs," and this will take some time. He also stated that could restrict exporting diesel to manufacturers "to further fill the domestic market."

As Kremlin Spokesman Dmitry Peskov stated on June 30, if Russia can reach cost-effective deals to import fuel, that could help stabilize the market. However, he added that the Kremlin will not disclose which countries it is in contact with regarding possible fuel imports.