India may not join US-led push to cap prices of Russia oil4 min read . Updated: 18 Oct 2022, 06:27 AM IST
The price cap proposal also comes against the backdrop of a 2 million barrels per day output cut by the Opec
NEW DELHI : India is averse to joining a US-led global initiative to cap prices of Russian crude oil, two people aware of the matter said, as it gets a steep discount on oil cargoes from Russia and wants to maintain the relationship with its long-time strategic partner. As the world’s third-largest oil importer, India’s stand is likely to influence the efficacy of the price cap plan.
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