Russia placed its demand in front of the world regarding the price of petroleum products

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Russia placed its demand in front of the world regarding the price of petroleum products


Image Source : AP
Russia

Highlights

  • Will not accept any move that is hurtful to the interests of
  • It has been said to fix the maximum price of petroleum products.
  • request has also been made from India

Russia: Russia said on Friday that it will stop the supply of oil to the global market if the price limits of petroleum products proposed by the G-7 countries are not reasonable. Russian Ambassador to India Denis Alipov said at a press conference here, “If we feel that the price ceiling fixed by the G-7 countries is not reasonable and is not acceptable to us, then we will clearly sell oil to the global markets.” supply will stop.

There can be trouble if you give with America

We will also stop supplying oil to other countries that support the US initiative in setting the price cap.” Russia has also substantially reduced its supply of oil and gas to European countries. In order to increase the crackdown on Russia, the US and other developed countries have asked to fix the maximum price of its petroleum products. Fuel exports to Russia Discussions are going on about this step to rein in the foreign exchange received from

What is India’s stand on this?
When asked in this context, the Russian Ambassador said that Russia will not accept any move that hurts its business interests. Alipov said that fixing the price band will create a huge shortage of oil in the global markets, which can lead to a significant jump in crude oil prices. The US has also requested India to be part of the system to fix the price of Russian oil. However, India has said that it will take a decision after “carefully examining” the proposal. In this regard, the Russian ambassador said, “India has so far taken a cautious approach to this idea. This idea will not be beneficial to India’s interests.” However, he agreed that India will take any decision on the implementation of such a system according to its interests.

Already banned in the European Union
Russia has indefinitely halted gas supplies to the European Union. Russian state-owned company Gazprom said that it had now stopped gas supply to us indefinitely. The reason for this is that due to the sanctions imposed on Russia by the US, Britain and the European Union, even the supplies necessary for the maintenance of the pipeline were not available. The condition was that there was no material available to repair the leakage.

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