India Interested in Russian Price Cap Coalition, US Hopes China Joins Too - Treasury Dept.
Indian officials have expressed interest in possibly joining an international coalition for a price cap on Russian energy and the United States hopes China will join the effort as well, Deputy US Treasury Secretary Wally Adeyemo said on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 08th September, 2022) Indian officials have expressed interest in possibly joining an international coalition for a price cap on Russian energy and the United States hopes China will join the effort as well, Deputy US Treasury Secretary Wally Adeyemo said on Thursday.
"I had a good trip in India where price cap was amongst many issues that we talked about ... The thing they care most about is paying the least amount of money for energy and making sure that they can secure energy supply for the Indian people, and that's why they're interested in continuing the conversation about the price cap," Adeyemo said during an interview with Yahoo news.
"Our hope is that India will come on board, and China will also consider it."
The US and partner countries in the Group of Seven are forming a coalition of countries to implement a price cap on Russian energy in an effort to cut the nation's revenues amid the special military operation in Ukraine. The price cap is set to go into effect by December 5, according to Adeyemo.