'Buy as much as needed': U.S 'happy' to have India get Russian oil at bargain deals | Details

U.S. Treasury Secy stated India can buy as much Russian oil as it wants, outside price cap. Yellen said, G7 price cap would drive global prices lower while curbing Russia's revenues. The cap is a concept promoted by U.S since the E.U first laid out plans for an embargo. Final details of the price cap imposed by G7 & Australia are still coming together. Rosneft, Russia's largest oil exporter, is expanding its tanker charter business.

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[TheArchives]

India must use this opportunity to retread how US aided Pakistan against India in 80s. The price cap is to limit profits and US expenditure. India must demand to be paid in rupee as SWIFT banking is western influenced, not politically stable as benchmarked in Russia. Payment must be made through BOI bank of India. Learn from Russia. India should also charge Oil transportation charges of Russia to India as Transportation Tax as it is not included in the commodity value. Vessel Transportation is not free, India is not Santa Uncle Sam.

[truthseeker]

Now US🇺🇲 is speaking like 🇮🇳 India is waiting for USA's permission for oil trade.

Iran's case was different as Israel🇮🇱 and Saudi🇸🇦 are also involved. Now it's Russia🇷🇺 and India 🇮🇳 is not gonna give up its national interest.

Jai Hind 🇮🇳

[saswatlenka]

I think its because US can get refined products like petrol diesel at cheap price from India

[Hi-eumv]

🇺🇸 has no choice but to say "buy as much as you like" to keep 🇮🇳 on its side!

[byomkesh]

No way, we Indians will not accept the price cap.

[gummykumar]

They're happy we're buying at lower price
But unhappy because we oppose price cap
They're not even hypocrite anymore
They're losing mind i guess

[fidenahmed]

Its like they are giving permission look how it says

[chatrapatishivajimaharaj]

*Dr. B.R. Ambedkar:* The allegiance of a Muslim does not rest on his domicile in the country which is his but on the faith to which he belongs. To the Muslim, Where it is well with me there is my country is unthinkable. Wherever there is the rule of Islam, there is his own country. *In other words, Islam can never allow a true Muslim to adopt India as his motherland and regard a Hindu as his kith and kin*

[JaiSriRam]

*This is the Power of Inflation* 🤣
*They r saying like this now because Inflation and Petrol prices have gone up so much in their country*

[chenchukrishnat]

No matter how many cunning attempts of the American government, it is of no use, because our India will always support Russia, so the Americans should never remember this.🇮🇳🇷🇺👍

[ravisunder]

Price cap on oil price is one of the stupidest decision by US n Europe. No oil will be available at the capped price

[gordondwyer]

India just need to buy a licence from the US to buy Russian oil. I'm pretty sure the Americans will even allow India to put a markup on the oil and resell it to them as well. Then the US can reduce their import cost of oil and inflation whilst also coming up smelling of roses because they've cut their local production of fossil fuels. Its all a matter of principle.

[sln]

Who is US to decide the price. It is between the buyer and seller

[dominicstone]

The reason why the US is happy, which nobody tells you - India will have to buy Russian crude using its forex reserve, Russia said they will allow usage of USD or Euro for transaction, no INR/ruble-rupee settlement has been activated from the Russian side.

So it will only boost the US in another way, which most can't see.


Best would have been if Russia agreed to a rupee-ruble settlement which Indian banks were trying to establish. At least they should sign a good FTA with India.

Or else India will bleed more forex towards Russia, which is against the diversifying strategy of India.

India bleeds forex - loss of India
India gets discounted crude - little overall gains

Russia gets forex -
1. gain of Russia
2. Narrowing market for its customers, more dependability over Russian product (crude oil).

US gains - it makes indirect gains, when USD is used for international trade, position of USD remains strong, US economy remains strong

US became tensed, when China was able to establish MoU with various countries in BRICS+ for Yuan settlements, China eliminating use of USD making it's own yuan stronger, recently Iran said usage of yuan in international trade, instead of USD.

India needs to step up in the international market, by literally burning the corruption present within.

[mayanknagpal]

Lol their tone is very dictating as if we were following their instructions to decide what to do next 😂

[chatrapatishivajimaharaj]

*Dr. B.R. Ambedkar:* Until complete population transfer of muslims to pakistan and nonmuslims to India is done, the question of majority vs minority will again appear and will produce disharmony in India

[rockstar-iyye]

Biden ::tel kharede lo😘🤗
Modi::: tum se pucha kisne hai🙏😎😂😂
😁🤭🤪😜😝😝

[johnnyang]

As long as they don’t sell to Europe she is happy 😂😂😂

[davidjhonsan]

Reliance Industry can solve this Russian problem for continuing shipping as much as oil to directly sold over Price Cape crude oil to whole European countries jai hind 🙏🙏🙏

[chizuanchan]

Russians are straight forward people and hence We Indians trust Russia 🇷🇺❤️. God bless India -Russia friendship.🇷🇺🇮🇳