"Despite Western opposition and a temporary decline in volumes to 1.2 million barrels per day in December-January, we remain India's largest oil supplier," Alipov said.
He said that with account for the significant discounts on Russian grades, the benefits for the local oil refining industry are obvious.
"We assume that Russia will retain its status as a major energy supplier, and that entrepreneurs will be able to adjust the existing format of cooperation with account for the current situation," Alipov said.