Page 7 - Anna Morris News Today : Breaking News, Live Updates & Top Stories | Vimarsana

New Delhi: The US on Thursday said it has not asked India to reduce its imports of Russian crude oil and that the G7 price cap was designed to force

Officials clarified that oil importers like India, which are not part of the price cap coalition comprising G7 countries and their allies, are not bound by the price cap as long as their purchase of Russian oil does not involve any shipping or insurance service from providers in the coalition countries

The US has not asked India to cut Russian oil imports, stating that oil refined in India isn't technically Russian. US officials emphasized limiting Putin's profit by curbing Russia's oil sales avenues. They noted that refined Russian oil sold to Western nations does not violate sanctions. India has informed the US of its intent to continue buying Russian oil for its energy needs and to stabilize global oil prices. Sanctions aim to restrict Russia's oil sales and incentivize deeper discounts for buyers avoiding Western services.

India News: Two senior US Treasury officials, Eric Van Nostrand and Anna Morris, visit India to discuss the Phase 2 of the Russian oil price cap. The cap aims to

The G7 price cap on Russian oil shipments is cutting the revenue that Moscow has available to support its invasion of Ukraine, and the mechanism's effectiveness is helped by the recent actions...