A significant increase in Russian oil imports by India could expose New Delhi to a "great risk" as the United States prepares to step up enforcement of sanctions against Moscow for its invasion of Ukraine, a senior U.S. administration official said.
www.reuters.com
Interesting bits from the article:
"U.S. has no objection to India buying Russian oil provided it buys it at discount, without significantly increasing from previous years," said the source who spoke on condition of anonymity. "Some increase is allowed," said the source, who did not offer more detail.
The source said Washington has no problems if India settles trade with Russia in rupees or continues to pay in dollars, provided the transaction are sanctions-compliant and with permitted entities.
"Whatever they are paying, whatever they are doing, needs to be in compliance with sanctions. If not they are exposing themselves to a great risk", the source said.
"As long as they are compliant with sanctions and not significantly raising purchases, we are okay," the source said.
The U.S. sanctions have granted a waiver till June 24 for settling energy trade with the Central Bank of Russia.
Probably related:
For the first time, India was the No. 1 purchaser of U.S. oil in 2021, one of the United States’ fastest-growing exports.
www.google.com