India may join a price ceiling on oil from Russia if the Russian crude costs more than $60 a barrel, Telegraph India reports quoting officials from the Ministry of Industry.
It is noted that Russia’s oil price ceiling has not affected India’s imports of the raw material, as its price is currently $53-56 per barrel.
It is also reported that Indian authorities are monitoring the sanctions imposed against oil from Russia.
On 27 December, Russian President Vladimir Putin signed a decree to retaliate against the imposition of a ceiling on Russian oil prices by the United States and other countries.
Earlier, Igor Yushkov, a leading expert of the National Energy Security Fund and the Financial University under the Government of Russia, commented on the oil market situation in a conversation with FBA Economics Today.
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