Tariff war: As Trump pressures India to cut Russian oil — will inflation rise if crude stops? RBI governor Sanjay Malhotra explains

RBI Governor Sanjay Malhotra downplayed fears of significant inflation from reduced Russian oil imports, citing diversified sources and potential government fiscal measures. His remarks come amid US tariff threats over India’s Russian oil purchases, which India has rejected. Despite geopolitical tensions, the RBI held its repo rate steady, forecasting stable growth and controlled inflation.