NEW DELHI, February 9. /TASS/. Russia remains India's largest oil supplier, despite Western attempts to hamper this cooperation, Russian Ambassador to India Denis Alipov told TASS.

"Despite Western counterwork and occasional fluctuations in shipment volumes, Russia remains India's largest oil supplier. By general estimates, our domestic hydrocarbons continue to form the basis of the Indian economy's import basket. Given significant discounts on Russian blends, the benefits for the local oil refining industry are obvious. At the Indian Energy Week international forum, held January 27-30 in Goa, leading companies from both countries discussed adjusting to the new situation," the ambassador said.

He admitted that the US restrictions imposed on Rosneft and Lukoil at the end of last year had a certain impact on the redistribution of hydrocarbon flows into India.

"We are currently witnessing another adjustment in the country's oil market, driven by the desire of local players to minimize the risk of secondary sanctions. This happened before, when Western countries imposed sanctions, but each time we found opportunities to continue mutually beneficial cooperation with our Indian partners," he said.

"Significant work has been done to establish new payment mechanisms, provide insurance coverage, and develop alternative transport and logistics routes," the ambassador added.

"Russia has proven itself to be New Delhi's most reliable partner in ensuring energy security. In recent years, Russian oil accounted for up to a third of India's hydrocarbon imports. Developing cooperation in this area was on the agenda of the leaders' December talks, during which the Russian President stressed that our country is ready to continue providing uninterrupted energy supplies to the fast-growing Indian economy," he concluded.

Last week, the US administration announced the decision to lift the additional 25% tariff on Indian imports effective February 7, citing New Delhi's refusal to purchase Russian oil. However, as noted in the executive order, the US will be ready to take action against India, including reinstating additional import tariffs on its goods, if it continues to purchase oil from Russia.

The Indian Ministry of Foreign Affairs noted that ensuring energy security for the country's 1.4 billion people is the government's top priority. As the ministry pointed out, diversification of energy sources in accordance with objective market conditions and the changing international environment lies at the core of the country's strategy, and all decisions of India are and will be made taking this into account.