India Dashes US “Hopes” On Oil Price Cap: “We Will Buy From Russia, We’ll Buy From Wherever”

The White House called on India and China to implement the G7’s price restrictions on Russian oil exports. Since the West started to curb energy exports from Moscow in response to the war in Ukraine, India and China have significantly increased their imports of Russian energy. On Tuesday, Moscow and Beijing signed a new agreement to trade oil in yuan and rubles.

US Deputy Treasury Secretary Wally Adeyemo said he hopes China and India will join the G7’s price cap on Russian oil. “Our hope...

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