Could buy Russian oil past $60 price cap: FM Sitharaman

The government will explore buying Russian crude oil near or past the price cap imposed by the G7 as it navigates external risks it sees as the biggest economic threat, according to FM Nirmala Sitharaman.
"Yes, because otherwise I'll end up paying far more than what I can afford," the FM said on Saturday in Washington, when asked if India would continue importing Russian oil beyond the $60-a-barrel cap."We have a large population and therefore have to look at prices which are going to be affordable for us."
The stance underscores the pressing need in the country to curb inflation and spur growth amid a surprise output cut by Opec+ and western sanctions to rein in Russia's oil revenue. India, along with China, has emerged as one of the key buyers of Russian crude. bloomberg