By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Latest World News UpdateLatest World News UpdateLatest World News Update
Notification Show More
Font ResizerAa
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Reading: Decisions guided by our energy security requirements: MEA amid US price cap on Russian oil – World News Network
Share
Latest World News UpdateLatest World News Update
Font ResizerAa
Search
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Latest World News Update > Blog > World > Decisions guided by our energy security requirements: MEA amid US price cap on Russian oil – World News Network
World

Decisions guided by our energy security requirements: MEA amid US price cap on Russian oil – World News Network

worldnewsnetwork
Last updated: April 4, 2024 12:00 am
worldnewsnetwork
Share
4 Min Read
SHARE

New Delhi [India], April 4 (ANI): Amid phase two of the price cap imposed on the purchase of Russian oil, the Ministry of External Affairs on Thursday said that India’s decisions are guided by its energy security requirements and that is of prime consideration.
MEA spokesperson Randhir Jaiswal said that India purchases from the international market, wherever it is available at the “cheapest available rate”.
Addressing the weekly press briefing, Jaiswal said, “For us, anything to do with energy security, oil purchases, are buying in the international market. All these are guided by our energy security requirements, and it’s a commercial exercise that we do. It’s a commercial venture that we engage.”
“We buy oil from the international market, wherever it is available, at the cheapest available rate. We have to ensure our energy security and that’s of prime consideration,” he added.
This comes as a team of the US Treasury Department is in India, amid phase two of the price cap on Russian oil imposed by the G7, the European Union, and Australia.
In December 2022, the G7 grouping and its allies announced a cap on the price of Russian oil as part of a series of punitive measures against Moscow following the start of the conflict with Ukraine.
Earlier in the day, Assistant Secretary for Economic Policy of the United States Department of Treasury, Eric Van Nostrand, hailed Washington’s decision to implement a price cap on Russian oil, stating that the decision made Moscow sell oil at discounted rates to other countries, including India.
“We know that the Indian economy has much at stake in the Russian oil trade, and has much at stake from the global supply disruptions that the price cap is designed to avoid. The price cap’s goals are to limit Putin’s revenue and maintain global oil supply–essentially by creating a mechanism for India and other partners to access Russian oil at discounted prices,” Nostrand said at an event in the national capital.
Another senior US official said that the United States has not asked India to stop or reduce its oil imports from Russia nor has it sanctioned any Indian entity for buying and refining crude oil purchased from Russia.
“There is no restriction, we have not asked India to reduce Russian oil buying,” Anna Morris, Acting Assistant Secretary for Terrorist Financing, said. “Not dictating that no trade can be done with Russia.”
Morris also stressed that once Russian oil is refined, it is no longer Russian oil.
“I also want to specify that once Russian oil is refined, from technical perspective, it is no longer Russian oil,” she said. (ANI)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

You Might Also Like

Karachi factory fire rages on for second day – World News Network

Two large scale solar energy projects approved in Israel – World News Network

6,000 new housing units planned for Jerusalem – World News Network

Over one thousand participate at Israel immigration fair in London – World News Network

China ramps up military activity near Taiwan: 14 aircraft, 6 naval vessels, 1 ship detected – World News Network

Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article UAE: Occupational Radiation Monitoring Laboratory at Emirates Health Services obtains ISO Certificate – World News Network
Next Article Hero MotoCorp gets tax and interest notice from Income Tax department – World News Network
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

- Advertisement -

Latest News

NCP-SCP chief Sharad Pawar hoists party flag on 26th foundation day – World News Network
National June 10, 2025
UP CM Yogi Adityanath highlights govt achievements as PM Modi completes 11 years in office – World News Network
National June 10, 2025
Court asks Director FSL to appear personally over non filing of report in a case against Kejriwal – World News Network
National June 10, 2025
Delhi: Fire breaks out on sixth floor of apartment building in Dwarka – World News Network
National June 10, 2025

Sports

All eyes on Lyon as Smith signals spin threat in WTC25 Final – World News Network
Sports
BCCI congratulates India’s World Cup winning captain Dhoni after his inducted in the ICC Hall of Fame – World News Network
Sports

Popular Category

  • Business
  • Entertainment
  • Health
  • Lifestyle
  • National
  • Science
  • Sports
  • Tech
  • Videos
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Press Release
  • Press Release Distribution Packages

Entertainment

Tejasswi Prakash offers prayers at Mahakaleshwar Temple in Ujjain on her birthday – World News Network
Entertainment
Tejasswi Prakash offers prayers at Mahakaleshwar Temple in Ujjain on her birthday – World News Network
Entertainment
Latest World News UpdateLatest World News Update
Follow US
Copyright © 2023 World News Network. All Rights Reserved
Welcome Back!

Sign in to your account

Lost your password?