Russia said on Friday that it would stop supplying oil to the global market if the price range proposed by the G-7 countries is not appropriate.
Russia’s ambassador to India Denis Alipov said at a press conference, “If we believe that prices are not fair and unacceptable to us, we will stop supplying oil to global markets and countries that are involved in the US initiative on price limits.” are involved.” in New Delhi,
He said that Russia would not follow any mechanism detrimental to its business interests.
With sanctions imposed by Western countries having little effect on Russia, G-7 countries and the European Union have imposed oil price limits on Russian crude and refined products to limit the Kremlin’s revenue.
Earlier this month, a statement issued by G-7 finance ministers said the price cap was specifically designed to reduce Russian revenues and its ability to be funded. Ukraine war.
With the price cap proposed by the US, I would believe that India is going to pursue its interest in the situation if such steps are implemented. We will not trade and cooperate to our detriment: Russian Ambassador to India Denis Alipov pic.twitter.com/UB30M3pWIK
— ANI (@ANI) 23 September 2022
Alipov said that the price cap will lead to a severe shortage of oil in the global markets and the prices will rise sharply.
The US has asked India to join a coalition to limit Russian oil prices, but New Delhi has said it will “carefully examine” the proposal before taking any decision.
“India has so far taken a careful approach to this idea. It will not be beneficial to Indian interest,” Alipov said, acknowledging that India will pursue its own interest if such a move is implemented.
“The West only uses quotes that correspond to them, ignoring other parts,” he said.
During a meeting with Putin in Samarkand, Modi told the Russian leader that “today’s era is not of war”, a comment seen by a section of world leaders as a public rebuke.
On reports of Pakistan transferring arms to Ukraine, Alipov said if such a delivery took place, it would have a negative impact on Russia’s relations with Pakistan.
“So far there have been unconfirmed reports. I do not know the facts. If it is confirmed, it will have an impact on our relations with Pakistan, no doubt about it.