Govt’s firm stand on buying Russian oil saves $8 billion in India’s import bill

New Delhi, May 1: India's strategy of continuing to buy cheap oil from Russia despite Western pressures against these purchases has resulted in the saving of around $7.

9 billion in the country's oil import bill during the first 11 months of the fiscal year 2022-23 and also helped the country to lower its current account deficit.

Prime Minister Narendra Modi-led government has stood firm in maintaining its ties with Russia despite the Western sanctions against Moscow.