Russian Ambassador Denis Alipov said that fixing the price cap will create a huge shortage of oil in the global markets, which can lead to a significant jump in crude oil prices.
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Russian ambassador Denis Alipov The U.S. on Friday acknowledged that the supply of Russian oil to India has come down in recent days. But he said that the two countries are discussing a long-term agreement for energy supply at a very competitive price. Alipov said during the press conference that Russia has accelerated the supply of oil. But we are talking with India about long term supply. We look forward to expanding this cooperation. At the same time, he said about the price cap that if the G-7 country imposes a price cap on Russian oil, then Russia will stop supplying oil.
Alipov said that fixing the price cap will create a huge shortage of oil in the global markets, which can lead to a significant jump in the price of crude oil. Russian Ambassador to India Denis Alipov said in a press conference, “If we feel that the price limit set by the G-7 countries is not reasonable, then we will clearly stop the supply of oil to the global markets.” We will also stop supplying oil to other countries that support the US initiative in setting the price cap.
India is not with America on this issue
The US has also requested India to be a part of the system of fixing the price cap of Russian oil. However, India has said that it will take a decision after considering this proposal. In this regard, the Russian ambassador said, ‘India has so far adopted a cautious attitude on this idea. This idea will not be beneficial to the interests of India. However, he agreed that India will take any decision according to its interests when such a system is implemented. Since the invasion of Ukraine, many Western countries, led by America, have imposed severe economic sanctions on Russia. In protest, Russia has also substantially reduced the supply of oil and gas to European countries.
An unbreakable relationship between India and Russia
The Russian Ambassador said that there is an unbreakable relationship between India and Russia. Western countries only use comments that suit them and ignore other parts. At the SCO summit held in Uzbekistan last week, there was extensive discussion between the two leaders regarding energy cooperation. At the same time, he said that on the delivery of S-400 missiles to India, Alipov said that it has nothing to do with the Ukraine war. He said, the delivery is going on as per the schedule. If there is some delay, it has nothing to do with the ongoing conflict with Ukraine. This is propaganda by those who want to influence the defense cooperation between us.
In order to increase strictness on Russia, America and other developed countries have talked about fixing the maximum price of its petroleum products. Discussions are going on about this move to rein in foreign exchange from fuel exports to Russia. When asked in this context, the Russian ambassador said that Russia will not accept any move that hurts its business interests. The G-7 countries supported the price cap on Russian oil.