India Adhering to Russian Oil Price Cap, Report Says
The Indian government has asked its banks and traders to adhere to Western sanctions imposed against Moscow, including the price cap on oil set by G-7 countries, Bloomberg reported March 12. Although India has reportedly increased its purchases of Russian…
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energy to take advantage of discounted prices, the country is buying oil “well below” the price cap, the report said, and is not looking to breach other sanctions imposed against Moscow.