India Thursday said its crude oil purchases are based on securing energy security from diverse sources at affordable prices, and it is studying the implications of the latest US sanctions on Russian oil companies Lukoil and Rosneft.

The remarks by External Affairs Ministry Spokesperson Randhir Jaiswal came amid indications that Indian refiners are slowly reducing procurement of subsidised Russian crude oil and looking at imports of petroleum products from the US.

Jaiswal also said that India and the US remained engaged to conclude a trade deal. His remarks came a day after US President Donald Trump said in South Korea that the US is doing a trade deal with India.

The external affairs ministry spokesperson, responding to questions on American sanctions on the two Russian oil giants at hi

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