India may buy Russian crude past cap if cut by OPEC+ boosts costs - What FM Nirmala Sitharaman said1 min read 16 Apr 2023, 05:29 PM IST
Finance Minister Nirmala Sitharaman said that the surprise OPEC+ oil-output cut and ‘the spillover of all the decisions which are related to the Russia-Ukraine war’ were the biggest threats to India's economic growth.
As the Ukraine-Russia war continues, much has been said about India's ongoing import of Russian oil. Putting its own interests front and centre, New Delhi has been buying oil from Moscow at a steep discount since global powers imposed sanctions against the Kremlin. Now, Finance Minister Nirmala Sitharaman has indicated that the country will explore buying Russian crude oil near or past the price cap imposed by the G-7 if necessary.