India to Continue Russian Oil Purchases, Says Former Foreign Secretary Kanwal Sibal

• Former foreign secretary Kanwal Sibal states India is unlikely to fully halt Russian oil purchases, despite a decline in imports.
• Russian oil's share in India's crude basket has fallen from 45% to about 20% in January.
• Future purchases will depend on pricing and the status of international sanctions.
• India may continue buying oil from companies not under sanctions if prices are favorable.
• Sibal also noted India's firm stance on agriculture in trade negotiations, making only minor concessions.

Why It Matters: India will likely continue some Russian oil imports, driven by pricing and sanctions, despite reduced volumes.