India has no plans to pay in rupees for the Russian oil its public sector companies buy, Parliament was informed on Monday.
India buys less than 1 per cent of its oil from Russia. But Western sanctions against Russia for its invasion of Ukraine have given way to the talk of a rupee trade for the oil and gas purchases.
“At present, oil public sector undertakings neither have any contract nor is any such proposal under consideration from Russia or any other country for the purchase of crude oil in Indian rupees,” minister of state for petroleum and natural gas Rameswar Teli said in a written reply to the Rajya Sabha. He did not elaborate.
