The United States has not asked India to cut Russian oil imports as the goal of sanctions and the $60 per barrel price cap imposed by the Group of Seven is to have stable global oil supplies while hitting Moscow's revenue, a U.S. Treasury Department official said on April 4. "It is important to us to keep the oil supply on the market” while limiting Russia’s profit, said Eric Van Nostrand. U.S. officials are in India this week meeting with government officials and business leaders to discuss cooperation on anti-money laundering, countering the financing of terrorism, and the implementation of the price cap.
U.S. Has Not Asked India To Cut Russian Oil Purchases, U.S. Treasury Official Says
The Group of Seven leading industrialized nations has set a price cap on Russian oil at $60 per barrel. (file photo)