India’s procurement of Russian crude oil is not under any government-to-government framework and Indian entities make the purchase from the market to respond to the country’s energy security requirement, Foreign Secretary Vinay Kwatra said on September 15.
Mr. Kwatra also chose not to comment on the proposed price cap on Russian oil, a move initiated by the G7 countries to choke Moscow’s oil revenue.
The G7 countries are reportedly seeking India’s support to enforce the price cap on Russian oil.
