India to continue buying Russian oil: Report
NEW DELHI: India will continue buying Russian oil because sanctions allow purchases provided that Western services are not used, an oil ministry source said on Friday.
The comment comes a day after European Union governments tentatively agreed on a $60 a barrel price cap on Russian seaborne oil, which comes into effect on December 5.
The cap, an idea proposed by the Group of Seven (G7) nations, is aimed at limiting funding for Russia’s invasion of Ukraine while maintaining adequate oil supplies for the global market.
