India has ‘shown great interest’ on Russian oil price cap proposal: US official

NEW DELHI: US deputy secretary of treasury Wally Adeyemo on Friday stated India has “proven nice curiosity” with respect to the proposal of capping Russian oil worth. The value cap will guarantee that there’s a discount in revenues for Russia, he stated throughout a media interplay right here.
The US has imposed sanctions on Russia within the wake of the invasion of Ukraine.
“In my dialog with Indian officers and coverage makers concerning the worth cap coalition, they’ve proven nice curiosity as that is consistent with India’s goal of reducing power worth for shoppers. We’re offering info to them and we’ll proceed the dialog,” Adeyemo stated.
India and few different nations have elevated buy of oil from Russia and towards this backdrop, the US is taking a look at methods to cap the Russian oil worth.
On Friday, Adeyemo met finance minister Nirmala Sitharaman and amongst different matters, they mentioned about Indo-Pacific Financial Framework and India’s G20 Presidency.