India Skeptical About Idea of Price Cap on Russian Oil - Russian Ambassador

NEW DELHI (Pakistan Point News / Sputnik - 14th September, 2022) India is skeptical about the idea of capping prices of Russian oil, Russian Ambassador to India Denis Alipov said in an interview with Sputnik.

"India is very skeptical about the idea of setting a price cap for Russian oil, although the United States is trying with all its might to draw it into its adventure.

It understands that without India as one of the largest consumers, it (price cap) will not work,"

The Indians are interested in lowering world prices for energy resources, but they are by no means sure that the plans of the US will work, the diplomat said, adding that New Delhi knows that Russia will not trade to its own detriment.

Commenting on the idea, New Delhi said that it would carefully evaluate whether to support this proposal, adding that it is still unclear what countries would take part in the proposed price cap and what implications this might have for the markets.