Bloomberg: India agreed to comply with sanctions against Russia

India supported the price ceiling for Russian oil, which was introduced by the West. It is reported by Bloomberg, citing sources familiar with the situation.

“India will not violate Western sanctions on Russia, including the $60 price cap imposed on oil purchases from Moscow. India’s commitment to sticking to price caps and continuing to buy crude from Moscow comes amid fears that future flows could temporarily dwindle after financiers fearful of sanctions violations demanded more details on the purchases. Bloomberg.

India is the third largest oil importer in the world and actively purchases energy resources from Russia. In recent months, India has enjoyed a discount on oil. A little over a year ago, India almost did not purchase Russian oil, but then the South Asian market became the key one for the Russian Federation.

Western countries impose anti-Russian sanctions because of a special operation in Ukraine. The West has set a price ceiling for Russian oil at $60 per barrel. G7 countries are going to revise the price ceiling in March.