India To Continue Russian Oil Imports In Line With National Energy Requirements: FM Sitharaman

(MENAFN- KNN India) New Delhi, Sep 8 (KNN) Finance Minister Nirmala Sitharaman on Friday reaffirmed that India will continue purchasing oil from Russia, underscoring that the country's energy policy will be determined by national requirements.

“India will continue to buy Russian oil. It is our decision to buy what suits our needs, where we buy our oil from, we will have to take a call on it,” Sitharaman told News18.

The minister emphasised fiscal discipline and credibility as key to economic management, noting that long-term growth depends on trust-building with citizens and responsible policymaking.

“There are no shortcuts to earning profits. We need to earn the people's trust to make them,” she said.

India faces a 50 percent tariff on Russian oil imports effective August 27, comprising a 25 percent reciprocal levy and an additional 25 percent duty specifically targeting Russian energy.

The US administration has defended the move as part of efforts to promote peace and enhance economic security, citing negotiations on large-scale trade and investment agreements worth about USD 2 trillion with key partners, including the European Union.

India has defended its reliance on Russian crude, calling it vital for energy security and criticising the US for singling out India while other nations continue similar purchases.

(KNN Bureau)

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