India cannot sacrifice economic strength to comply with U.S. sanctions: Finance Minister
NEW YORK: India wants to comply with global sanctions, including U.S. sanctions on Venezuela and Russia, but also needs to maintain its own strength and strategic interests, Finance Minister Nirmala Sitharaman said in an interview on Tuesday.
The United States in January imposed the toughest sanctions yet on Venezuela's oil industry. The move has scared away some global customers, but with few alternative suppliers of heavy oil, Indian refiner Reliance IndustriesNSE -0.75 % Ltd has bee n buying Venezuelan crude from Russian major Rosneft . The company is set to resume direct oil loadings in the South American nation after a four-month pause.