Washington: US Energy Secretary Chris Wright said on Sunday that the US asked India to purchase Russian oil cargoes that were waiting to unload at Chinese refineries in a bid to stabilise global energy markets during the ongoing conflict with Iran.
In an interview to CNN, Wright said the Trump administration directly reached out to India as part of a short-term effort to calm oil markets rattled by disruptions in the Middle East.
“I did call up the Indians, as did US Treasury Secretary Scott Bessent, and say, look, there’s a whole bunch of oil that’s floating to wait to unload at Chinese refineries,” he added.
“Instead of having it wait six weeks to unload there, let’s just pull that oil forward, have it land at Indian refineries and tamp this fear of shortage of oil, tamp the price spikes and the concerns we see in the marketplace,” Wright said.
The US Energy Secretary added that the step was intended to quickly bring additional crude supplies into global markets and prevent further spikes in oil prices triggered by the war with Iran.
“It’s just a pragmatic effort that has a short time span,” he said.
The US Energy Secretary emphasised that Washington’s broader policy toward Russia had not changed despite the temporary flexibility extended to India.
“It is not. The United States’ policy towards Russia has not changed at all,” Wright said when asked whether the move undermined the administration’s efforts to reduce reliance on Russian oil.
He added that India had already shifted much of its energy sourcing away from Russian crude.
“India is very clear on that. They had displaced all Russian oil imports. And they were raising their imports from the United States, from Venezuela, and other nations. India’s been a great partner through this,” Wright said.
The Energy Secretary said the US administration’s immediate priority was stabilising global oil supplies as the conflict with Iran disrupted tanker traffic through the Strait of Hormuz.
“The world is very well supplied with oil right now,” he added.
“You’re seeing a little bit of fear premium in the marketplace. But the world is not short of oil today or natural gas.”
The Strait of Hormuz, through which about 20 per cent of global oil shipments normally pass, has seen significant disruption since the conflict began, raising concerns about supply shortages and sharp increases in energy prices.
Wright said some tanker traffic had already resumed, though shipping levels remained far below normal.
“We’re nowhere near normal traffic right now. And that’ll take some time,” he added.
“But, again, worst case, that’s a few weeks. That’s not months.”
The remarks underscore India’s growing role in global energy markets as major economies look for ways to manage supply disruptions triggered by geopolitical crises.
(IANS)
