US will not impose sanctions on India for buying oil from Russia
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The United States has no plans to impose sanctions on India for buying Russian oil, said US Assistant Secretary of State for European and Eurasian Affairs Karen Donfried. According to her, the development of US-Indian relations is of great value to Washington.
“By the end of the decade, Russian oil and gas reserves will be reduced by 50%. We do not believe that the policy of sanctions requires special attention. We are satisfied with India’s approach. We are already seeing results — the budget deficit that Russia reported,” said Ms. Donfried during the conference (quoted from The Print).
U.S. Assistant Secretary of State for Energy Geoffrey Pyatt, quoted by NDTV, specified that Washington is “satisfied” with the position of the Indian government when buying oil from Russia. “But we continue to have a dialogue on this issue,” he added.
Earlier today, Feb. 9, Bloomberg wrotethat the G7 countries are discussing expanding sanctions against companies from China, Iran and North Korea, which can help Russia bypass Western restrictions. Restrictions, according to the agency, may be introduced on February 24, the anniversary of the entry of Russian troops into Ukraine.
On December 5, 2022, the price limits for Russian oil ($60 per barrel) set by the G7 countries came into force. Since then, most of the oil under the embargo has been redirected to China and India, the volume of cargo with an unknown destination has also increased, The Economist reported.
According to Bloomberg, India buys Russia has oil at a big discount, and after processing, the fuel will be sent to Europe. Back in the summer, due to fear of violating Western sanctions, global oil traders and banks stopped cooperation with the Indian oil refinery company Nayara Energy. According to the International Energy Agency, in December 2022, the export of Russian oil and oil products to India amounted to 1.6 million barrels per day.
More details – in the material “Kommersant” “Flanking Maneuvers”.
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