<h1>India confident in oil supply diversification despite potential US sanctions on Russian imports</h1> India dismissed concerns about potential US sanctions on Russian oil purchases, expressing confidence in securing supplies from alternative sources. The Oil Minister stated the country has diversified its supplier base from 27 to 40 countries and can manage any disruption to Russian imports. India imports over 85% of its crude oil requirements, with Russia becoming its largest supplier at 40% of total imports after offering steep discounts following Western sanctions over the Ukraine invasion. Previously, Russia supplied only 0.2% of India's oil needs before February 2022. The minister highlighted emerging suppliers like Guyana and potential increased production from Brazil and Canada. Officials indicated they could revert to pre-Ukraine crisis supply patterns if necessary, when Russian imports were below 2%. The statement came after the US President threatened sanctions on countries buying Russian exports if Moscow doesn't reach a Ukraine peace agreement within 50 days.