The US said on Thursday that it has always been and will always be unacceptable to allow unhindered trade of Russian oil.
America said that the purpose of fixing the prices of Russian petroleum products by Western countries is to force Moscow to sell oil at lower prices.
US officials also said that the US has not asked India to reduce the amount of oil imported from Russia.
Eric Van Nostrand, America’s Assistant Secretary of State for Economic Policy, said this during a discussion at Ananta Center.
Nostrand said that while the G-7 group countries set the price of Russian oil, while it made it difficult for Russia to raise money for the war in Ukraine, it also helped in stabilizing the supply of energy in Europe and emerging markets. .
US Assistant Secretary for Economic Policy Eric Van Nostrand and Acting Assistant Secretary for Countering Terrorist Financing Anna Morris were asked during a conversation at the Ananta Center whether there were any new demands from India to reduce Russian oil imports. .
Nostrand responded, “No, it is important for us to maintain the supply of oil in the market. “What we want to do is limit (Russian President Vladimir) Putin’s benefit from this, and that’s what this policy is designed to produce.” He further said, “As one of the most important global consumers of oil, we know that the Indian economy. “There is too much at stake in Russian oil trade, and too much at stake in the global supply disruptions that the price range is designed to avoid.”
“Emerging markets like India have benefited from Russian oil being available at lower prices than global markets,” the US official said. ,
He said that the purpose of fixing Russian oil prices has been to develop a market where Russia can supply a fixed quantity of oil at a heavily discounted rate and it can also make minimum profits.
It is noteworthy that in view of Russia’s attack on Ukraine, the G-7 group and its allied countries had fixed the prices of Russian oil in December 2022 with the aim of imposing sanctions on Moscow.