By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Latest World News UpdateLatest World News UpdateLatest World News Update
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
Reading: Have not asked India to reduce buying Russian oil, says US treasury official – World News Network
Share
Notification Show More
Font ResizerAa
Latest World News UpdateLatest World News Update
Font ResizerAa
  • Home
    • Home 1
  • Categories
  • Bookmarks
  • More Foxiz
    • Sitemap
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Latest World News Update > Blog > World > Have not asked India to reduce buying Russian oil, says US treasury official – World News Network
World

Have not asked India to reduce buying Russian oil, says US treasury official – World News Network

worldnewsnetwork
Last updated: April 4, 2024 12:00 am
worldnewsnetwork 1 year ago
Share
SHARE

New Delhi, [India], April 4 (ANI): The United States has not asked India to stop or reduce its oil imports from Russia and nor has it sanctioned any Indian entity for buying and refining crude oil purchased from Russia since the beginning of its war with Ukraine, according senior American officials from the United States Treasury Department.
“There is no restriction, we have not asked India to reduce Russian oil buying,” said Anna Morris, Acting Assistant Secretary for Terrorist Financing in response to a question at a session at the Ananta Centre in the national capital.
“Not dictating that no trade can be done with Russia,” she added at the session which focused on the on phase two of the price cap on Russian oil imposed by the G7, the European Union, and Australia.
Morris also stressed that the once Russian oil is refined it is no longer Russian oil.
“I also want to specify that once Russian oil is refined, from technical perspective it is no longer Russian oil,” she said.
In the same event, the Assistant Secretary for Economic Policy, Eric Van Nostrand, hailed India’s decision to implement price cap on Russian oil said that the decision made Russia sell oil at discounted rates to other countries, including India.
“We know that the Indian economy has much at stake in the Russian oil trade, and has much at stake from the global supply disruptions that the price cap is designed to avoid. The price cap’s goals are to limit Putin’s revenue and maintain global oil supply–essentially by creating a mechanism for India and other partners to access Russian oil at discounted prices,” he said referring to Russian President Vladamir Putin.
“The price cap’s goals are to limit Putin’s revenue and maintain global oil supply–essentially by creating a mechanism for India and other partners to access Russian oil at discounted prices. The price cap’s first year was a successful one by those standards: global oil markets remained well-supplied while Russian oil traded at a significant discount to global oil,” he added.
The US Department of Treasury issued a statement regarding the price cap on Russian oil in February this year.
“The United States is part of an international coalition of countries (the Price Cap Coalition), including the G7, the European Union, and Australia, that have agreed to prohibit the import of crude oil and petroleum products of Russian Federation origin (“Russian oil “),” the statement said.
“These countries, home to many best-in-class financial and professional services, have also agreed to restrict a broad range of services related to the maritime transport of Russian oil–unless that Russian oil is bought and sold at or below the specific price caps established by the Coalition or is authorised by a license. This policy is known as the ‘price cap’. The price cap is intended to maintain a reliable supply of crude oil and petroleum products to the global market while reducing the revenues the Russian Federation earns from oil after its own war of choice against Ukraine inflated global energy prices,” it added. (ANI)

Contents
WORLD MEDIA NETWORKPRESS RELEASE DISTRIBUTIONPress releases distribution in 166 countriesPress releases in all languagesPress releases in Indian LanguagesIndia PackagesEurope PackagesAsia PackagesMiddle East & Africa PackagesSouth America PackagesUSA & Canada PackagesOceania PackagesCis Countries PackagesWorld Packages

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

You Might Also Like

China jacks up military activity around Taiwan – World News Network

Trump announces he will sign executive order that aims to lower drug, pharmaceutical prices by 30-80% – World News Network

US announces trade deal with China in Geneva – World News Network

“Indian leadership responded by hitting back, projecting strength, confidence” US Foreign Policy expert hails Operation Sindoor – World News Network

Ukraine President agrees meeting with Putin this week – World News Network

Share This Article
Facebook Twitter Email Print
Previous Article UAE: Occupational Radiation Monitoring Laboratory at Emirates Health Services obtains ISO Certificate – World News Network
Next Article Hero MotoCorp gets tax and interest notice from Income Tax department – World News Network
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Copyright © 2024 World News Network. All Rights Reserved.
  • Advertise with us
  • Newsletters
  • Deal
Welcome Back!

Sign in to your account

Lost your password?