The government will explore buying Russian crude oil near or past the price cap imposed by the G7 as it navigates external risks it sees as the biggest economic threat, according to FM Nirmala Sitharaman.
“Yes, because otherwise I’ll end up paying far more than what I can afford,” the FM said on Saturday in Washington, when asked if India would continue importing Russian oil beyond the $60-a-barrel cap. “We have a large population and therefore have to look at prices which are going to be affordable for us.”
