India unlikely to join G7 push to cap Russian oil prices to counter Putin

The move to cap prices of Russian oil comes amid efforts to reduce Russia's revenue to counter its advances in Ukraine war, with minimum impact on global energy crisis

India may not be the most excited member of the club planning to cap prices of Russian crude oil, reported Livemint.

Recently, finance ministers of G7 countries led by the US, proposed that oil-related service providers may only be allowed to deal in Russian seaborne oil and petroleum products at a price cap.

India, which is currently the world's largest oil importer, is reluctant to join the initiative against Russia, as it continues to receive oil cargoes from Russia at discounted rates. 

The move to cap the prices of Russian oil comes amid efforts to reduce Russia's revenue to counter