Key Points
The United States has not asked India to reduce imports of Russian oil, an American treasury official said on Thursday, adding that Russian oil refined in India cannot technically be considered Russian oil...
Nostrand said buyers can purchase Russian oil at deeper discounts outside of the price cap mechanism if they do not use Western services such as insurance and broking, thus limiting Russia's sales avenues...
It is not an import from Russia," Morris said.. India had conveyed to the US that it would continue to purchase Russian oil for its own energy needs and to prevent a surge in global oil prices, said people aware of the matter...
Nostrand said the sanctions were intended to limit the options available to Russia to sell its oil under the price cap, offer deeper discounts to buyers if they circumvented Western services and to shut its oil wells...
The price cap imposed by the G7, the European Union and Australia bans the use of Western maritime services and flagging the transportation when tankers carry Russian oil priced at or above $60 a barrel..
