The United States has begun discussions with India on the modalities and implications of a price cap on Russian energy imports, national security adviser Jake Sullivan said on Tuesday.
At their summit meeting in Germany this week, G7 leaders floated the idea of imposing price caps on Russian energy imports and instructed their concerned ministers to work out the details. The move is a part of the West’s effort to meet dual objectives: deprive Russia of revenue from energy exports – seen as a key source of its war financing efforts in Ukraine, while ensuring that the global energy market stabilises, given the inflationary pressures caused by galloping energy prices across the world.
