Russia on Friday said it would stop supplying oil to the global market if the price cap proposed by the G-7 countries was unfair.
Russian Ambassador to India Denis Alipov said at the press conference: “If we consider the prices to be unfair and unacceptable to us, we will simply stop supplying oil to the markets. globally and for countries participating in the US price cap initiative”. here.
Asked about Prime Minister Narendra Modi’s call to Russian President Vladimir Putin for an end to hostilities in Ukraine, Denis Alipov said these remarks are in line with India’s position on the issue. this topic.
“The West only uses quotes that suit them while ignoring other parts,” he said.
During his meeting with Putin in Samarkand, Modi told the Russian leader that “in this day and age there are no wars,” a remark that was seen by some world leaders as a public rebuke.
He said Russia will not follow any mechanism that is detrimental to its commercial interests.
With sanctions imposed by Western nations having little effect on Russia, the G-7 countries and the European Union have encouraged oil price caps on Russian crude and refined products to limit Kremlin revenue.
Earlier this month, a statement by G-7 Finance Ministers said the price cap was specifically designed to reduce Russia’s revenue and ability to finance the Ukraine war.
Alipov said the price cap would lead to a severe shortage of oil in the global market and a sharp increase in prices.
The US has asked India to join the alliance to limit the price of Russian oil, but New Delhi said it would “carefully consider” the proposal before making any decisions.
“So far, India has taken a cautious approach to this idea. It will not be in India’s interests,” Alipov said, acknowledging that India would pursue its own interests. yourself if such a step is taken.
On reports of Pakistan’s arms transfers to Ukraine, Alipov said that if such deliveries take place, it will have a negative impact on Russia’s relations with Pakistan.
The Russian envoy said: “Up until now there have been such unconfirmed reports. I don’t know about the truth.
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