Union Finance Minister Nirmala Sitharaman has made it clear that India cannot suddenly stop buying crude oil from Russia nor can it immediately shift to other suppliers. He said that this is necessary to meet the needs of 140 crore people. At the ‘BusinessLine Changemaker Awards’ on Tuesday, Sitharaman said that if India stops taking oil from Russia, there will be a shortage of oil in the world, due to which the prices of crude oil can increase rapidly in the international market. The Finance Minister said – National interest will be on top. The Finance Minister said, “India can talk about buying oil from any other country apart from Russia, but as soon as we do so, there will be less oil in the market and its prices will start touching the sky. This can become a big challenge for us, hence national interest will be on top, that is, we will have to see the benefit of our country first in every situation.” He said that there should be no shortage of petrol and diesel in the country, hence India will continue to buy oil from every country in the world from where cheap and good oil can be easily available.
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