India rebutted mounting US pressure to end crude imports from Russia, with Oil Minister Hardeep Puri arguing that the flows had helped to shield the global economy from a price spike, while also directly challenging blunt language used by White House adviser Peter Navarro.
“India’s adherence to all international norms prevented a catastrophic $200 per barrel shock,” Puri said in a column in The Hindu newspaper on Monday. “Some critics allege that India has become a ‘laundromat’ for Russian oil. Nothing could be further from the truth.”
Oil traders are focused on New Delhi’s buying after Washington ...
