India has said it will continue buying oil wherever it gets the best deal
Russia has offered India help in overcoming oil price cap being imposed by western nations amid the war in Ukraine.
"In order not to depend on the ban on insurance services and tanker chartering in the European Union and Britain, the Deputy Prime Minister of Russia Alexander Novak has offered India cooperation on leasing and building large-capacity ships," the Russian embassy in New Delhi said.
Alexander Novak held a meeting with Indian ambassador to Moscow Pavan Kapoor on Friday, it said.
"In the first eight months of 2022, Russian oil exports to India grew to 16.35 million tonnes; in the summer, Russia ranked second in terms of oil shipments to India," the statement said.
Western nations have been critical of India's move to keep buying oil from Russia amid the war in Ukraine. While India has many times called for peace negotiations over Ukraine, it has stood firm by its stand that it will keep buying oil from wherever it gets a good deal.
The government does not ask Indian companies to buy oil from Russia but it is a sensible policy to get the best deal in the interest of the Indian people, External Affairs Minister S Jaishankar told parliament on December 7.
"We do not ask our companies to buy Russian oil. We ask our companies to buy oil, what is the best option that they can get. Now it depends on what the market throws up... Again, please do understand, it's not just that we buy oil from one country. We buy oil from multiple sources, but it is a sensible policy to go where we get the best deal in the interests of the Indian people and that is exactly what we are trying to do," Mr Jaishankar had said.