India To Continue Buying Oil From All Countries Including Russia: Official
NDTV
The price caps are part of the EU's plan to use its clout in insurance and shipping industries to crimp Moscow.
India will continue to buy crude oil from anywhere in the world, including Russia, to meet its energy needs, a top official said ahead of EU restrictions on Russian oil kicking in.
The executive body of the European Union has asked its 27-member countries to cap the price of Russian oil at USD 60 as part of the West's attempt to squeeze Moscow's oil revenues and limit its ability to wage war in Ukraine while keeping global prices and supplies steady.
"Unlike Iran and Venezuela, there are no sanctions on buying oil from Russia. So anyone who can arrange for shipping, insurance and financing outside of the EU can buy oil," the official said.
The price caps are part of the EU's plan to use its clout in insurance and shipping industries to crimp Moscow.
