India will explore buying Russian crude oil near or past the price cap imposed by the G-7 as it navigates external risks it sees as the biggest economic threat.
“Yes, because otherwise I’ll end up paying far more than what I can afford,” Finance Minister Nirmala Sitharaman said in an interview Saturday in Washington, when asked if India would continue importing Russian oil beyond the $60-a-barrel price cap. “We have a large population and we also therefore have to look at prices which are going to be affordable for us.”
