What does America say now on India’s oil imports? China does not want to buy Russian oil.
New York/Washington. The US has requested India to buy Russian crude oil already in sea transport and divert it to Indian refineries, to reduce fears of a possible supply shortage and rise in prices amid the ongoing conflict in West Asia. US Energy Secretary Chris Wright said the move is a short-term and practical effort to keep the market stable.
Along with this, Wright clarified that this initiative does not indicate any change in America’s policy regarding Russian oil. He said in an interview to ‘CNN’ on Sunday that he, along with Finance Minister Scott Besant, had talked to Indian officials so that India could buy cargoes of Russian crude waiting to be unloaded at Chinese refineries.
Wright said,India has been a good ally in this matter. Finance Minister Scott Besant and I spoke on the phone with Indian officials and said that there is still a lot of oil to be unloaded at China’s refineries.He said, “Instead of waiting six weeks for the oil to be unloaded there, India could buy it in advance and send it to its refineries to reduce the risk of oil shortages, sudden price increases and market concerns.।”
Along with this, he reiterated that there has been no change in American policy towards Russia and “India is completely clear about this.” When asked whether the 30-day exemption given to India to buy Russian oil weakens the Trump administration’s goal of isolating Russia, he said, “Not so.” This is only a practical step and its effect is only short-term. There was no change in policy towards Russia.
Under the relaxation given by the Finance Ministry last week, India can buy crude oil from Russia for 30 days. Earlier, the Trump administration had imposed 25 percent punitive duty on Indian products on purchasing oil from Russia. But last month, as per the agreement reached on the interim trade agreement, this duty was said to be removed.
Wright also said that India has completely stopped importing Russian oil and is increasing its imports from the US, Venezuela and other countries. US Ambassador to the United Nations Mike Waltz also supported the decision, saying it was a temporary and practical measure.
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