The American sanctions on Russia and threats of further punitive actions by the new Trump administration will have "limited effect" on India, said Indian Oil Chairman Arvinder Singh Sahney . He backed his argument stating that India has multiple sources to meet its energy needs. "It is not a very difficult thing to handle because it has a very limited effect.
Whatever sanctions are there, we are abiding by them," Sahney told ANI from Davos, two days after the new US administration was inaugurated. "And going forward we have a very different kind of alliances and different kind of sources that are already available in the market," Sahney added. "We have OPEC, we have OPEC+, we have other than OPEC, and we have Gulf.
" Soon after assuming office, President Donald Trump called for an immediate resolution to the ongoing conflict between Russia and Ukraine and warned of potential economic consequences for Russia, including "taxes, tariffs, and sanctions." The previous Biden administration had already imposed heavy sanctions on various entities in Russia since the Ukraine conflict began in February of 2022. "Other than OPEC, we have Guyana, Brazil, the US itself now that our government is also willing to go ahead with that and increase our exposure to US crude also, so we have enough options available, so there is no issue as far as supplies of crude to India as such is concerned," IOC Chairman asserted.
Asked about international crude prices and how he sees it going ahead, Sahney s.
