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Have not asked India to stop or reduce Russian oil imports: US official

Written by  Shgun S -- April 04th 2024 06:41 PM
Have not asked India to stop or reduce Russian oil imports: US official

Have not asked India to stop or reduce Russian oil imports: US official

PTC News Desk: The US has not asked India to stop or reduce its oil imports from Russia, nor has it sanctioned any Indian entity for purchasing and refining crude oil from Russia since the start of its war with Ukraine, said senior US Treasury Department officials.

"There is no restriction; we have not asked India to reduce Russian oil purchases," said Anna Morris, Acting Assistant Secretary for Terrorist Financing, in response to a question during a session at the Ananta Centre in the national capital.


"Not dictating that no trade can be done with Russia," she said during the session, which focused on the second phase of the G7, EU, and Australia's price cap on Russian oil.

Morris emphasised that once Russian oil is refined, it is no longer Russian oil. "I also want to specify that once Russian oil is refined, from technical perspective it is no longer Russian oil," she stated.

In the same event, Assistant Secretary for Economic Policy Eric Van Nostrand praised India's decision to impose a price cap on Russian oil, stating that the decision allowed Russia to sell oil at lower prices to other countries, including India.

"We understand that the Indian economy is heavily invested in the Russian oil trade, as well as in the global supply disruptions that the price cap is intended to prevent. The price cap's goals are to limit Putin's revenue while also maintaining global oil supply--essentially by creating a mechanism for India and other partners to access Russian oil at reduced prices," he said.

"The price cap's goals are to limit Putin's revenue and maintain global oil supply--essentially by creating a mechanism for India and other partners to access Russian oil at discounted prices. The price cap's first year was a successful one by those standards: global oil markets remained well-supplied while Russian oil traded at a significant discount to global oil," he went on to say.

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