Putting energy security first, buying discounted Russian oil: FM Sitharaman

Sitharaman said that she was entering financial year 2022-23 (FY23) with "cautious optimism" at a time of global commodity price escalation due to the Russia-Ukraine war

Union Finance Minister Nirmala Sitharaman said on Friday that India had already started buying discounted crude oil from Russia and has received 3-4 days worth of supply.

Speaking at the India Business Leaders Awards, Sitharaman also said that she was entering financial year 2022-23 (FY23) with “cautious optimism” at a time of global commodity price escalation due to the Russia-Ukraine war.

“We have received quite a number of barrels. I would think about 3-4 days of supply. I would put my country’s national interest and energy security first. If fuel is available at a discount, why shouldn’t India buy it,” Sitharaman said.

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