Russia on Friday mentioned it might cease supplying oil to the worldwide market if the value cap proposed by G-7 international locations was not truthful.
“If we think about the costs should not truthful and unacceptable to us, we might merely cease supplying the oil to world markets and to these international locations that be part of the US initiative on the value cap,” Russia’s Ambassador to India Denis Alipov mentioned at a press convention right here.
Requested about Prime Minister Narendra Modi’s attraction to Russian President Vladimir Putin on cessation of hostilities in Ukraine, Denis Alipov mentioned the remarks have been in line with India’s place on the difficulty.
“The West makes use of solely these quotes that swimsuit them whereas ignoring different components,” he mentioned.
Throughout a gathering with Putin in Samarkand, Modi had informed the Russian chief that “right this moment’s period just isn’t of struggle”, remarks that have been seen by a piece of world leaders as a public rebuke.
He mentioned Russia wouldn’t comply with any mechanism detrimental to its commerce pursuits.
With sanctions imposed by western nations making scant affect on Russia, the G-7 international locations and the European Union have mooted an oil worth cap on Russian crude and refined merchandise to restrict Kremlin’s revenues.
Earlier this month, an announcement issued by G-7 Finance Ministers mentioned the value cap was particularly designed to scale back Russian revenues and its skill to fund the Ukraine struggle.
Alipov mentioned the value cap will result in acute scarcity of oil within the world markets and the value would sharply go up.
The US has requested India to hitch the coalition to cap the costs of Russian oil, however New Delhi has mentioned it might “rigorously study” the proposal earlier than taking any resolution.
“India has to date taken a cautious method to this concept. It won’t be helpful to Indian curiosity,” Alipov mentioned, acknowledging that India would pursue its personal curiosity if such a step will get carried out.
On experiences about Pakistan transferring arms to Ukraine, Alipov mentioned if such deliveries have taken place it might have a destructive affect on Russia’s relations with Pakistan.
“As of now there have been such unconfirmed experiences. I have no idea concerning the info. If there’s a affirmation of this there shall be an affect on our relationships with Pakistan there isn’t any doubt about that,” the Russian envoy mentioned.
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