India keeping tabs on possible extra EU sanctions on Russian crude oil

India is keeping close tabs on possible extra sanctions by the European Union on Russian crude as the price cap of $60 per barrel has had little impact on exports to India, oil ministry and industry officials said.

Sources said the cap has not impacted the import of Russian crude as the present price is $53-$56 per barrel.

However, the government is weighing up options if the price crosses $60 per barrel — purchases will then be restricted — or if the EU decides on imposing blanket secondary sanctions on countries purchasing Russian oil.