https://sputniknews.in/20230316/russian-ambassador-denies-reports-claiming-india-agrees-to-g7-price-cap-1184305.html
Russian Ambassador Denies Reports Claiming India Agrees to G7 Price Cap
Russian Ambassador Denies Reports Claiming India Agrees to G7 Price Cap
Sputnik India
Media reports claiming that India agreed to comply with the price cap on Russian oil introduced by the G7 are not true, Russian Ambassador in New Delhi Denis Alipov said
2023-03-16T12:00+0530
2023-03-16T12:00+0530
2023-03-16T12:00+0530
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Bloomberg reported earlier this week, citing sources, that India had decided not to violate Western sanctions against Moscow and comply with the Russian oil price cap approved by the G7. The Indian government reportedly asked banks and traders to adhere to the sanctions requirements. "Such misinformation appears regularly," Alipov told Russian media.That said, the Russian ambassador noted that the price at which India purchases crude from Russia remains a trade secret and disclosing it would "harm both Russia and India."Earlier this week, the Kremlin said that Moscow would base its oil cooperation with India on contracts with contracting parties and not on media reports.In response to the price cap, Moscow has banned the supply of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap, in a decree signed by President Vladimir Putin in late December.
https://sputniknews.in/20230315/west-not-unhappy-with-india-buying-oil-from-russia-energy-minister-1169272.html
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Russian Ambassador Denies Reports Claiming India Agrees to G7 Price Cap
MOSCOW (Sputnik) - Media reports claiming that India agreed to comply with the price cap on Russian oil introduced by the G7 are not true, Russian Ambassador in New Delhi Denis Alipov said on Thursday.
Bloomberg reported earlier this week, citing sources, that India had decided not to violate Western sanctions against Moscow and comply with the Russian oil price cap approved by the G7. The Indian government reportedly asked banks and traders to adhere to the sanctions requirements.
"Such misinformation appears regularly," Alipov told Russian media.
"India is not a party to the price cap mechanism for Russian oil. And [New Delhi] has repeatedly expressed doubts about the efficiency of such a mechanism in general," the Russian ambassador added.
That said, the Russian ambassador noted that the price at which India purchases crude from Russia remains a trade secret and disclosing it would "harm both Russia and India."
Earlier this week, the Kremlin said that Moscow would base its oil cooperation with India on contracts with contracting parties and not on media reports.
In response to the price cap, Moscow has banned the supply of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap, in a decree signed by President Vladimir Putin in late December.
