◆ Mixed
Why can’t India just stop buying Russian crude oil? FM Nirmala Sitharaman explains
23 Sept 2026 · Business Today Mkts
FM Nirmala Sitharaman said that India will choose to source its energy requirement from every corner of the world and that which suits India when it comes to availability.
The analysis
This is an Input cost / crude event. India imports most of its crude, so input costs pass through to margins downstream and to the rupee. Producers and consumers of the same input move in opposite directions.