Telegraph India: India can support Russia’s oil price ceiling

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.

Telegraph India: India can support Russia's oil price ceiling

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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