Kremlin: Russia, India Oil Cooperation to Be Based on Contacts With Contractors

 / Go to the mediabankAn oil pumpjack is seen in Almetyevsk District, Tatarstan, Russia. / Go to the mediabankInternationalIndiaAfricaMOSCOW (Sputnik) – Russia will base its oil cooperation with India on contracts with contracting parties and not on media reports, Kremlin spokesman Dmitry Peskov said on Monday. Last week, media reported that India would adhere to the price cap on Russian oil of $60 per barrel. “We have certain decisions taken in this regard, decisions taken by the Russian President and registered in relevant documents. We will proceed based on them, in addition, of course, in this case we are not guided by the reports of news agencies, but first of all, by our contacts with our counter-parties in India,” Peskov told a briefing.EconomyRussian Price Cap Has Created Difficulties for Operations in Energy Markets, Chevron CEO Admits6 March, 18:09 GMTAfter Russia began its special military operation in Ukraine, the West actively searched for ways to limit Moscow’s energy-related income, notably from oil and gas. The effort culminated with a $60 price-cap imposed by G7 member states and Australia on December 5.In response to the price cap, Moscow banned the supply of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap, in a decree signed by President Vladimir Putin in late December.


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