India in the issue of limiting oil prices prefers to keep the benefits of contracts with Russia

India believes that relations with Russia are beneficial to it, and wants to maintain the advantages in contacts. This, answering a question about the country’s attitude to the oil price ceiling, was stated by Indian Foreign Minister Subramaniam Jaishankar after negotiations with his Russian counterpart Sergei Lavrov. At the meeting, the ministers discussed joint progress in the space and nuclear fields.

“Today we are the third largest consumer of oil and gas, but income levels are not very high. Therefore, we have an obligation to provide the best access to international energy markets on the most favorable terms. To be honest with you, we believe that the Indian-Russian relations are beneficial to us, and we would like to maintain the advantages in our relations in the future, ”said Subramaniam Jaishankar (quoted by RIA Novosti).

The head of the Indian Foreign Ministry also called the Russian Federation a reliable, time-tested partner. According to him, partnership with Russia has been maintained for many years in trade, economy, energy, defense, space.

Earlier today, November 8, US Treasury Secretary Janet Yellen in an interview Press Trust of India stated that limiting the cost of Russian oil would lead to gains. She expressed her hope that India would support the fuel price ceiling.

In early September, the US authorities also claimedthat India can take the position of the G7 on the price cap of Russian raw materials. Business Standard later wrote that Moscow was ready to give New Delhi even greater discounts on oil supplies if India refused to support the G7 initiative. However, Russian spokesman Dmitry Peskov denied such promises.

November 4 G7 countries announced on the introduction of a ceiling on oil prices in the near future. The measure will operate within the framework of the eighth package of EU sanctions. The US Treasury offered to set the price around the “historical” $40-60 per barrel.

Read about the position of India in the material “Kommersant” “Delhi does not see the point in the ceiling”.

Polina Sobakina