India will continue to buy oil from wherever its suits the country including Russia: Union Minister

New Delhi, Sep 06, 2025 : Union Finance Minister Nirmala Sitharaman has said that India will continue purchasing Russian oil, stressing that decisions will be guided solely by national interest.

In an interview to a TV channel, she said, whether it is Russian oil or anything else, we will take a call based on what suits our needs in terms of rates and logistics. Mrs Sitharaman’s reiterated that the contribution of crude oil to India’s import bill is the highest.

She said that the new GST regime will improve consumption by citizens and it will not impact capital expenditure. Mrs Sitharaman said, 99 per cent of all the goods and services are now either in the zero, five or 18 per cent bracket.

She said, it was the first time that both the issue of Compensation Cess and a comprehensive proposal on GST have been taken up by the Centre. The Minister said, Petroleum and alcohol products will be outside of GST.

The Minister informed, government is working on measures to support exporters who are impacted by the 50 per cent US tariffs. She said, a package for exporters is being prepared.

Mrs Sitharaman said, the objective of Atmanirbhar Bharat was not only about producing everything in the country, but also about self-respect in the face of uncertain global trade policies.