 "India to examine price cap proposal for Russian crude: Hardeep Singh Puri")
Union minister Hardeep Singh Puri said on Wednesday that the government will examine a proposal by Western nations to impose a price cap on Russian oil purchases, even as some local refiners have lined up Russian cargoes for delivery post December 5, when the cap is set to take effect.
The Group of Seven richest economies (G7) has been trying to enforce a price-capping mechanism on Russian oil exports by December 5.
"I think there is an exemption for Japan for Sakhalin, then there is crude which comes through the pipeline, so they have exemptions...we will have to look at it," said India's oil minister, Hardeep Singh Puri.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)