Hours after United States President Donald Trump said Prime Minister Narendra Modi assured him of cutting procurement of Russian crude oil, India on Thursday said it is broad-basing and diversifying sourcing of petroleum product to meet market conditions.
External Affairs Ministry spokesperson Randhir Jaiswal said it has been New Delhi's consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario.
"Our import policies are guided entirely by this objective," he said.
Jaiswal was responding to media queries on US President Trump's remarks.
"Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy," he said.
"This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions," Jaiswal added.
India's continuing purchase of petroleum products from Russia notwithstanding Western sanctions has become a major issue that resulted in severe downturn in ties between New Delhi and Washington.
In Washington, Trump told reporters that Modi has "assured me there will be no oil purchases from Russia."
The US president said India may not be able to cut the procurement immediately but the process has started.
"It (process) has started. He can't do it immediately. It's a little bit of a process, but the process is going to be over soon," the US president said.