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February 22, 2024
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International

Russia Offers Discounted Oil To India To Counter G7 Proposal: Report

NB BUREAU

In a bid to counter the growing clamour among the G7 nations to enforce a price cap on Russian oil, Moscow has reportedly offered lesser oil price to New Delhi, reports Business Standard on Sunday.

The Newspaper quoting unnamed official in India’s Ministry of External Affairs, report that “In principle, the ask in return is that India should not support the G7 (Group of Seven) proposal. A decision on this issue will be taken later following talks with all the partners”.

The G7 Countries, in an effort to financially squeeze out Moscow and limit its invasion in Ukraine, is pushing for a price cap on the Russian Oil.

G7 Comprises of Canada, France, Germany, Italy, Japan, the UK, and the US.

According to the reports, India, being the second-largest oil importer globally, has been requested multiple times to join the price cap, but New Delhi has so far remained at a distance seeking early resolution on Ukraine Conflict through dialogue.

 

(With Media Inputs)

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