India can buy crude oil from Russia, but subject to certain conditions: America

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New Delhi: Russia attacked Ukraine in February this year and since then the US and European countries have imposed economic sanctions on Russia. After this Russia offered to sell cheap crude oil to countries around the world. After this, Russia offered to sell crude oil to countries around the world at mandated prices.

Countries like India and China are also taking full advantage of it. Meanwhile, the US has said that India can buy as much crude oil from Russia as it wants, but it must respect the price cap machinery imposed by the G7.

It is clear that crude oil prices are linked to Western insurance, finance and maritime services scalps. US Treasury Secretary Janet Yellen has said that there is no problem with India taking advantage of cheap crude being sold by Russia.

Yellen has said that global oil prices will remain weak due to the decline in crude prices, which is likely to affect Russia's earnings. Yellen said this separately while addressing a conference on US-India trade relations.

Russia will no longer be able to sell crude oil to European countries as before. This is because it is not possible for Russia to sell crude oil at a discount from current prices or below the price cap. It will be difficult for Russia to sell crude oil to European countries as they have stopped buying crude from Russia.

Russia is now trying to find a new buyer for its crude oil. In fact, many buyers of crude oil rely on Western service. India has become the largest buyer of crude oil after China.


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