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US Official in India For Sanctions on Russian Oil Purchases

The U.S. administration, who aims to make India stop purchasing oil from Russia, has sent an official over to India on Tuesday to converse with the government and private officials on the U.S. sanctions, according to the Treasury Department.

The U.S. Treasury official will meet with the Indian government officials along with private and state refining companies on Thursday to talk over oil purchases from Russia following its sanctions program.

The visit of Elizabeth Rosenberg, the assistant secretary for Terrorist Financing and Financial Crimes, is part of the U.S. plan to broaden sanctions and export controls against Russia.

India, which is the number 3 oil importer in the world, increased oil imports from Russia to about 277,000 barrels per day (bpd) in April. The figure is higher than 66,000 bpd in March.

The current sanctions from the U.S. do not restrict other oil purchases from Russia in other countries. However, the U.S. officials have resorted to “secondary sanctions” against Russia.

Tariffs and price-cap regulations on Russian oil are still ongoing.

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By Ali on May 25, 2022


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