Import of Russian oil at discounted price part of inflation management: FM

Finance Minister Nirmala Sitharaman on Thursday said India has ramped up the import of crude oil from Russia at discounted prices amid sanctions on Moscow as part of the country’s inflation management.

“In a situation where global prices were going beyond anyone’s affordability, at that stage to take a very strong political decision, I respect the Prime Minister for his courage on this to get it from Russia because they are ready to give it to you at discount. And how speedily did we manage to do it,” she said.