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India will continue to buy oil from Russia: FM Nirmala Sitharaman

Russia is offering more oil to India at a discount of as much as $35 a barrel on prices before the Ukraine war

Nirmala Sitharaman
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Union Finance Minister Nirmala Sitharaman

Bloomberg
India will continue buying cheap Russian oil in the nation’s interest, Finance Minister Nirmala Sitharaman said, even as pressure mounts to isolate Kremlin.

“We have started buying, we have received quite a number of barrels -- I would think three-four days supply and this will continue,” Sitharaman said at a CNBC-TV18 event on Friday. “India’s overall interest is what is kept in mind.”

Indian state refiners have been doubling down on Russian barrels that are being shunned away by European buyers since the beginning of war in Ukraine. The country has contracted Russian crude oil for deliveries over the next three to