India Gets Advice From US On Buying Oil From Russia
NDTV
The United States and its allies in the Group of Seven rich nations aim to prevent Russia from profiting from oil after its invasion of Ukraine on February24, while ensuring that most of its oil continues to flow to global markets.
India stands to gain from a price cap on Russian oil and the United States hopes that it will take advantage of it, US Treasury Secretary Janet Yellen said ahead of a visit to India this week, media reported on Tuesday.
The United States and its allies in the Group of Seven rich nations aim to prevent Russia from profiting from oil after its invasion of Ukraine on February 24, while ensuring that most of its oil continues to flow to global markets.
The G7 nations plan to cap prices of sea-borne oil shipments from December 5, with a second cap on oil products from February 5.
India, the world's third biggest oil importer and a traditional ally of Russia, has not explicitly condemned what Russia calls its "special military operation" in Ukraine.
