The Group of Seven is about to implement a “price limit order” on Russian oil, and at the same time put pressure on other countries. However, Indian media quoted government officials as saying on the 17th that India is not worried about this and will continue to purchase Russian oil in the future.
According to the previous agreement reached by the finance ministers of the Group of Seven, the Group of Seven will impose a price limit on Russian crude oil from December 5, and a price limit on Russian refined petroleum products from February 5 next year. According to Indian media reports, Indian Oil and Natural Gas Minister Hardeep Singh Puri said on the 16th when talking about this “price limit order”, the Indian government did not feel pressure on it, nor did he feel fear or anxiety. No matter what problems arise, the Indian side can also deal with them.
According to a previous report by the “Indian Express”, in October this year, Russia became India’s largest oil supplier. At this stage, crude oil from Russia accounts for about 22% of India’s total imported crude oil, while Russian crude oil accounted for only 1% before.
In response to the Western attempt to limit the price of oil and gas exports to Russia in order to reduce Russia’s fiscal revenue, Russian Deputy Prime Minister Alexander Novak said in an interview with the media that no matter what price the other party offers, Russia will not pay any Countries with price caps supply oil.