Russian Oil Price Cap: America and western countries will impose a price cap on Russian oil, which may be announced soon

Posted on 24th Nov 2022 02:56 pm by rohit kumar

During the ongoing Russia-Ukraine war since February 2022, Western countries are imposing various economic sanctions on Russia. Meanwhile, Russia is providing petroleum products to India at cheap rates. Now, to crack down on Russia selling oil to India, the US and its allies are planning to cap oil prices at $65 to $70 per barrel.

 

 

The G-7 group and the European Union may soon announce a price cap to crack down on Russia selling oil to India at cheap prices. If this happens, it may affect India's purchase of oil from Russia. Ambassadors of all countries involved in the European Union met on Wednesday to approve the imposition of a price cap on Russian oil and proposed a price cap level. As soon as this proposal is approved, the price cap can be announced.

 

 

India has been buying large quantities of oil from Russia since the Ukraine war. India is getting exemption on purchase of oil from Russia. Oil transactions between India and Russia are going on despite opposition from America and Western countries. According to media reports, if a price cap is imposed on Russian oil, then India will also be affected by it.

 

Also Read: Mukesh Ambani: India will be one of the top three economies of the world by 2047, Ambani said – unprecedented opportunities will be available

Other news

Salman Khan: Salman attended Ganesh Utsav with tight security, ran into the car; the video went viral

Some videos of Salman Khan are viral on social media, in which he attended a Ganpati festival wit

'Settle all the things today, you may or may not get a chance tomorrow...', said Salman Khan's father Salim Khan with teary eyes

After the murder of NCP leader Baba Siddiqui in broad daylight, Salman Khan's security has been t

Baba Siddiqui murder case: 'They used to talk to the conspirators by taking hotspots from the laborers', big revelation by accused Akashdeep

Akashdeep Gill, who was arrested from Punjab in connection with the murder of NCP leader Baba Sid

Trump Tariff: 'This is a big mistake, talk to Modi ji soon...', why did Nikki Haley give this advice to Trump?

US President Donald Trump is surrounded in his own country over tariffs. His own party's Republic

'Never accepted anyone's mediation in the matter of Pakistan', Jaishankar shows the mirror to Trump

Foreign Minister Dr. S Jaishankar showed the mirror to US President Donald Trump, who is claiming

Baba Siddique Murder Case: 'It is very difficult to believe that Baba is no more, the culprits should be punished', said Madhur Bhandarkar

Nationalist Congress Party (NCP) leader Baba Siddiqui was shot dead in Mumbai on Saturday night.

Cracks in 868 buildings so far in Joshimath: 243 families sent to a relief camp, relief amount of more than 5 crores given

So far 868 buildings have developed cracks due to land subsidence in Joshimath, Uttarakhand. Cham

DU HC: Rejects plea of two DU students seeking interchange of courses and seats, High Court also gives partial relief

The Delhi High Court has refused to allow two candidates who have successfully secured admission

Sonu Sood: Sonu Sood met Andhra Pradesh Chief Minister Chandrababu Naidu, donated an ambulance

Recently, Bollywood actor Sonu Sood met Andhra Pradesh Chief Minister Chandrababu Naidu and donat

Will a world war start today? Iran can attack Israel, Netanyahu is also ready after America's warning

Iran can attack Israel Iran is furious after the killing of Hamas leader Ismail Haniyeh. Iran has