America softens on crude, Janet Yellen said- ‘India should buy as much crude oil as it wants from Russia, no objection’
US Treasury Secretary Janet Yellen made a statement at the summit organized on India-US economic relations.
‘America is happy that New Delhi can continue to buy as much oil from Russia as it wants.’
‘Russian oil is being sold at cheap prices and we are happy that India has got a better deal.’
New Delhi. After India’s clear attitude, the US has now said that it is happy that New Delhi continues to buy oil from Russia as much as it wants. If he wants to buy oil even at prices above the price cap system imposed by G7. US Treasury Secretary Janet Yellen said this on Friday. Earlier, European countries including America were also pressurizing India to impose a price cap on Russian oil. In fact, due to the imposition of a price cap on Russian crude oil, the profit being made on selling crude oil to Moscow will reduce.
Yellen said in an interview to news agency Reuters at a conference organized to strengthen economic ties between the US and India that this cap will still reduce global oil prices while curbing Russia’s revenue. According to Yellen, Russia will not be able to sell as much oil as it does now that imports have been stopped by the European Union, without resorting to capped prices or significant discounts from current prices.
‘This is a good deal for India’
Yellen said the existence of a cap on oil prices would help India, China and other major buyers of Russian crude to reduce the price they pay to Moscow. Yellen said, “Russian oil is being sold at cheap prices and we are happy that India has got a better deal.”
read this also- India bluntly on buying oil from Russia – will buy from where it will be cheaper, no pressure on us
Yellen told Reuters that India and private Indian oil companies can buy oil at any cost, as long as they do not use these Western services and find other services.
On a recent visit to Russia, Indian External Affairs Minister S Jaishankar clearly stated that it is New Delhi’s “fundamental obligation” to ensure oil imports from Russia provide Indian consumers with the best deal on the “most beneficial” terms in the international crude oil markets. be received
After the Russo-Ukraine war, India has increased the import of crude oil from Russia and angry with this, other western countries including America are continuously putting pressure on New Delhi. But India clarified its stand every time.
New duties will increase on Russian goods – report
According to the AP report, the US official said, the G7 leader will raise new tariffs on Russian goods, ready to push the price cap on Moscow’s oil earnings.
At the same time, Yellen said, “It is going to be very difficult for Russia to continue shipping oil, as they have stopped buying Russian oil by the European Union. They are struggling to find buyers and many buyers depend on western services.”
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FIRST PUBLISHED : November 12, 2022, 08:49 IST