MOSCOW: Russia has mentioned that it welcomes India’s resolution to not make stronger the associated fee cap on Russian oil introduced by way of the G7 and their allies. Russian deputy top minister Alexander Novak made the observation all the way through his assembly with India’s Ambassador to Russia, Pavan Kapoor, on December 9.
“The deputy prime minister welcomed India’s decision not to support the price cap on Russian oil, which was imposed on December 5 by the G7 countries and their allies,” the Russian Foreign Ministry mentioned in a observation.
Novak wired that Russia is responsibly enjoyable its contractual responsibilities for the provision of power sources, diversifying power exports to the international locations within the east and south amid the power disaster. Earlier in September, G7 international locations agreed to impose a worth cap on oil imports from Russia.
According to the observation issued by way of the Russian Foreign Ministry, Russian oil imports to India rose to 16.35 million tonnes within the first 8 months of 2022. Notably, India continues to import oil from Russia in spite of the continuing battle between Moscow and Kyiv. The Ministry of External Affairs has defended the verdict of buying Russian oil.
During the summer time, Russia used to be ranked 2d when it comes to oil shipments to India. Furthermore, deliveries of oil merchandise and coal additionally higher. During the assembly with Pavan Kapoor, Novak invited the minister for petroleum and herbal gasoline Hardeep Singh Puri to participate within the world discussion board, Russian Energy Week 2023, which is scheduled to be held in Moscow from October 11-13, 2023. assembly, the 2 aspects famous the report expansion in industry between Russia and India. Kapoor and Novak expressed the will to proceed the interplay, expanding cooperation on industry in power sources like oil, petroleum merchandise, liquefied herbal gasoline, coal and fertiliser.
Russia’s Deputy PM Alexander Novak presented cooperation to India on leasing and construction large-capacity ships so as to not rely at the ban on insurance coverage products and services and tanker chartering in European Union and the United Kingdom, the observation mentioned. Novak described introducing a worth cap on Russian oil as an “anti-market measure” which he wired impacts provide chains. “The introduction of a price cap on Russian oil is an anti-market measure. It disrupts supply chains and could significantly complicate the situation in global energy markets. Such non-market mechanisms disrupt the international trading system as a whole and set a dangerous precedent in the energy market,” Novak mentioned within the observation.
“As a result, the problem of energy poverty is being aggravated not only in the developing world, but also in the developed countries of Europe,” it added.
“The deputy prime minister welcomed India’s decision not to support the price cap on Russian oil, which was imposed on December 5 by the G7 countries and their allies,” the Russian Foreign Ministry mentioned in a observation.
Novak wired that Russia is responsibly enjoyable its contractual responsibilities for the provision of power sources, diversifying power exports to the international locations within the east and south amid the power disaster. Earlier in September, G7 international locations agreed to impose a worth cap on oil imports from Russia.
According to the observation issued by way of the Russian Foreign Ministry, Russian oil imports to India rose to 16.35 million tonnes within the first 8 months of 2022. Notably, India continues to import oil from Russia in spite of the continuing battle between Moscow and Kyiv. The Ministry of External Affairs has defended the verdict of buying Russian oil.
During the summer time, Russia used to be ranked 2d when it comes to oil shipments to India. Furthermore, deliveries of oil merchandise and coal additionally higher. During the assembly with Pavan Kapoor, Novak invited the minister for petroleum and herbal gasoline Hardeep Singh Puri to participate within the world discussion board, Russian Energy Week 2023, which is scheduled to be held in Moscow from October 11-13, 2023. assembly, the 2 aspects famous the report expansion in industry between Russia and India. Kapoor and Novak expressed the will to proceed the interplay, expanding cooperation on industry in power sources like oil, petroleum merchandise, liquefied herbal gasoline, coal and fertiliser.
Russia’s Deputy PM Alexander Novak presented cooperation to India on leasing and construction large-capacity ships so as to not rely at the ban on insurance coverage products and services and tanker chartering in European Union and the United Kingdom, the observation mentioned. Novak described introducing a worth cap on Russian oil as an “anti-market measure” which he wired impacts provide chains. “The introduction of a price cap on Russian oil is an anti-market measure. It disrupts supply chains and could significantly complicate the situation in global energy markets. Such non-market mechanisms disrupt the international trading system as a whole and set a dangerous precedent in the energy market,” Novak mentioned within the observation.
“As a result, the problem of energy poverty is being aggravated not only in the developing world, but also in the developed countries of Europe,” it added.