NEW DELHI: India feels no pressure from the impending price cap on Russian crude proposed by the G-7 from December 5 and is confident the market will deal with any possible impact on shipping and insurance, oil minister Hardeep Singh Puri said on Wednesday.
“The Narendra Modi government feels no pressure. I have no anxiety. We will see (how things pan out) and deal with it accordingly. The market will deal with logistics issue if they arise,” Puri told reporters on the sidelines of an industry function.
Last month Russia became India’s top oil supplier as refiners went bargain-hunting ahead of the price cap and EU embargo, which will bind insurance and maritime services.
