<p>Finance Minister Nirmala Sitharaman on Wednesday said the government had started exploring alternatives to sunflower oil, which India imports in large quantities from Ukraine.</p>.<p>Ukraine’s invasion by Russia has stoked fears over the import of sunflower oil from the eastern European nation.</p>.<p>“The government has started looking for other places... if not sunflower oil, any other oil that can come into India, that is used in India,” Sitharaman said during a media interaction here, adding that this may prove to be a challenge because of the ongoing war. </p>.<p>Sitharaman said that Russia has made ‘an open offer’ to supply oil at a discounted price, but she specified that the government has not yet decided as many factors need consideration. </p>.<p>The US, in addition to economic sanctions, has banned all imports of Russian oil, gas and energy.</p>.<p>“There was an open offer in the last 2-3 days that Russia is giving [oil] at some sort of discounted price. But, we don’t know... a whole bunch of factors have to be weighed in,” Sitharaman said.</p>.<p>“We have to get it from some port to ship it and then whether or not it can come to India, and whether or not it is workable,” she added. </p>.<p>There’s also an issue with insurance for consignments, Sitharaman pointed out.</p>.<p>“There are consignments that should have insurance cover adequately. Will they get insurance? The nitty-gritty needs to be worked out if at all,” she said. The minister said the petroleum minister is “fairly seized of the matter”.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>Finance Minister Nirmala Sitharaman on Wednesday said the government had started exploring alternatives to sunflower oil, which India imports in large quantities from Ukraine.</p>.<p>Ukraine’s invasion by Russia has stoked fears over the import of sunflower oil from the eastern European nation.</p>.<p>“The government has started looking for other places... if not sunflower oil, any other oil that can come into India, that is used in India,” Sitharaman said during a media interaction here, adding that this may prove to be a challenge because of the ongoing war. </p>.<p>Sitharaman said that Russia has made ‘an open offer’ to supply oil at a discounted price, but she specified that the government has not yet decided as many factors need consideration. </p>.<p>The US, in addition to economic sanctions, has banned all imports of Russian oil, gas and energy.</p>.<p>“There was an open offer in the last 2-3 days that Russia is giving [oil] at some sort of discounted price. But, we don’t know... a whole bunch of factors have to be weighed in,” Sitharaman said.</p>.<p>“We have to get it from some port to ship it and then whether or not it can come to India, and whether or not it is workable,” she added. </p>.<p>There’s also an issue with insurance for consignments, Sitharaman pointed out.</p>.<p>“There are consignments that should have insurance cover adequately. Will they get insurance? The nitty-gritty needs to be worked out if at all,” she said. The minister said the petroleum minister is “fairly seized of the matter”.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
