Archimedes's principle state that the upward buoyant force exerted on a body partially or fully immersed in a fluid is equal to the weight of the fluid displaces.
Look at the figure, the object experience a force of gravity due to its weight.
The liquid also experiences an upthrust, which is also called buoyant force.
It is opposite to the force of gravity.
And equals to the amount of liquid displaced by the object.
The object inside the liquid only feels the total force acting on it as the weight.
Because the actual gravitational force is decreased by the liquid’s upthrust.