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Govt cannot ensure cheaper oil to India, says US commerce secretary

Ross is in India to participate in a trade forum


Wilbur Ross
US Secretary of Commerce Wilbur Ross | Photo: Reuters

The government will not ensure sale of its oil to India at cheaper rates as the commodity is controlled by private companies, commerce secretary said on Monday.

Ross is in India to participate in a trade forum.

The latest sanctions against has barred Asian buyers, including India, from importing oil from was shipping oil to India at discounted rates.

“Oil is owned by private people so the government cannot force people to make concessionary prices,” Ross said, when asked if the United States is considering selling oil to India at a concessional rates to make for loss of Iranian barrels.

First Published: Mon, May 06 2019. 15:24 IST