New Delhi, Sep 8 : Finance Minister Nirmala Sitharaman, on Thursday, declared that the importation of Russian crude oil during the midst of an economic crisis in the world was element of the state’s “inflation control”.In a speech at a gathering in the city, she said that it was due to the “statesmanship of Prime Minister Narendra Modi” that, despite maintaining the relationship with all nations, India managed to get the Russian crude.
The Finance Minister claimed that the Prime Minister was aware of the political consequences of the decision to acquire Russian crude.He added that “here I commend the statemanship of the Prime Minister, that we maintained our relations with all countries and managed to secure Russian crude.
In fact, Japan has now done the same”.
She further explained that “at an time when the global economic crisis was beyond the reach of anyone’s budget and we cut (fuel) price in November of last year and the following month in June (2022 ).at that point, we made a clear policy decision.I admire the Premier Minister for his determination to buy crude from Russia as they were offering it at a discounted price”.
In addition, the Finance Minister claimed that India’s total imports only comprised just 2% of the Russian component.”It was increased to 12 percent within just a couple of months,” she added.
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