Global oil prices "would have hit the roof" if big importer India had not bought oil from Russia following the Ukraine war, India's oil minister said, adding that prices would determine where the country buys oil from.

Hardeep Singh Puri said that Russian oil was not subject to sanctions and there was only a price cap, which he assured Indian entities adhered to. Puri pointed out that many other European and Asian nations made significant energy purchases from Russia.

India, the world's third largest oil importer and consumer, has become the top buyer of discounted Russian sea-borne oil shunned by Western countries since Ukraine's invasion began in early 2022. Before that,