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Sunday, April 2, 2023

India has denied reports of buying Russian oil at the price cap


Indian authorities have denied reports of Russian oil purchases under the price cap set by G7 countries. This was reported by Reuters with reference to its own sources.

India is not obliged to buy Russian oil at prices below the price limits set by the G7 and other Western countries

  • the agency quotes its speaker from the Ministry of Petroleum of India.

According to him, India has not signed any agreement with Western powers on the introduction of a price cap on Russian oil.

Recall, the day before, Bloomberg, citing anonymous sources, reported that India had decided not to violate Western sanctions against Russia and to respect the ceiling on oil prices approved by the G7. According to the publication, the Indian government has asked banks and traders to comply with the requirements of the sanctions.

The Kremlin quickly responded to these messages. The Press Secretary to the President of the Russian Federation, Dmitry Peskov, stressed that Russia was mainly focusing on its own contacts with India in economic matters, and not on media reports.

We have certain decisions made by the President of Russia in this regard and formalized with the relevant documents. We will start from them.

  • said Dmitry Peskov.

It should be noted that at present India is one of the largest consumers of Russian oil and oil products.

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